Chevy Chase Trust Holdings LLC Reduces Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 98,201 shares of the oil and natural gas company’s stock after selling 2,525 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Diamondback Energy were worth $16,088,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $29,000. UMB Bank n.a. grew its stake in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy during the third quarter worth about $42,000. Ashton Thomas Securities LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth about $52,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.5 %

Shares of FANG stock opened at $156.99 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a market cap of $45.84 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.24 and a beta of 1.86. The stock has a 50 day simple moving average of $166.15 and a 200-day simple moving average of $178.01. Diamondback Energy, Inc. has a 1-year low of $152.00 and a 1-year high of $214.50.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FANG. UBS Group lifted their target price on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James lifted their target price on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Wells Fargo & Company lifted their target price on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group assumed coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.17.

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.