Edge Capital Group LLC Lowers Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Edge Capital Group LLC decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,891 shares of the oil and natural gas company’s stock after selling 3,000 shares during the quarter. Edge Capital Group LLC’s holdings in Diamondback Energy were worth $4,569,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. lifted its stake in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc lifted its stake in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at $52,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FANG. Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Friday, January 3rd. Finally, Benchmark reiterated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.22.

Diamondback Energy Price Performance

FANG stock opened at $156.12 on Monday. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $165.60 and a 200 day moving average price of $176.57. The stock has a market cap of $45.59 billion, a PE ratio of 8.94, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy 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.