Kestra Private Wealth Services LLC Sells 575 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Kestra Private Wealth Services LLC reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,198 shares of the oil and natural gas company’s stock after selling 575 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Diamondback Energy were worth $1,507,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FANG. Assenagon Asset Management S.A. boosted its holdings in shares of Diamondback Energy by 1,153.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after purchasing an additional 1,042,505 shares during the period. Zimmer Partners LP purchased a new position in shares of Diamondback Energy during the third quarter valued at approximately $87,924,000. Holocene Advisors LP boosted its position in shares of Diamondback Energy by 95.3% during the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after buying an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Diamondback Energy by 17,151.2% in the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock worth $58,620,000 after acquiring an additional 338,050 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $155.46 on Thursday. The business’s fifty day simple moving average is $166.98 and its 200-day simple moving average is $178.62. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. 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 $45.39 billion, a PE ratio of 8.90, a PEG ratio of 1.24 and a beta of 1.86.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FANG. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Benchmark reissued a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. Piper Sandler dropped their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Mizuho lowered their target price on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Four 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.00.

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.