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

Edge Capital Group LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.7% in the 4th quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FANG. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. raised 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 worth $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc raised 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 worth $34,000 after acquiring an additional 188 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $52,000. Finally, Synergy Asset Management LLC bought a new position in shares of Diamondback Energy during the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 3.7 %

Shares of NASDAQ FANG 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 market cap of $45.59 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.24 and a beta of 1.86. 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 stock has a fifty day moving average price of $165.60 and a 200 day moving average price of $176.57.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FANG shares. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Piper Sandler cut their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Morgan Stanley increased their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, UBS Group increased their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price 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.