Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Lifted by Private Advisor Group LLC

Private Advisor Group LLC raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,974 shares of the oil and natural gas company’s stock after purchasing an additional 2,859 shares during the period. Private Advisor Group LLC’s holdings in Diamondback Energy were worth $3,600,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FANG. Swedbank AB boosted its holdings in shares of Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after acquiring an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after purchasing an additional 37,246 shares in the last quarter. Franklin Resources Inc. grew its position in Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares in the last quarter. Tectonic Advisors LLC raised its position in shares of Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after buying an additional 8,704 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after acquiring an additional 7,694 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Down 3.7 %

Shares of NASDAQ FANG opened at $156.12 on Monday. The stock has a market capitalization of $45.59 billion, a P/E ratio of 8.94, a PEG ratio of 1.24 and a beta of 1.86. The stock’s fifty day moving average is $165.60 and its 200 day moving average is $176.57. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FANG shares. Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Truist Financial boosted their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.22.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.