Key Financial Inc Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Financial Inc increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 940.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 208 shares of the oil and natural gas company’s stock after purchasing an additional 188 shares during the period. Key Financial Inc’s holdings in Diamondback Energy were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in 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 valued at $185,606,000 after acquiring an additional 1,042,505 shares during the period. Zimmer Partners LP purchased a new stake in Diamondback Energy during the third quarter valued at about $87,924,000. Holocene Advisors LP grew its position in 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 acquiring an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. grew its position in Diamondback Energy by 25.6% during the third 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 period. Finally, International Assets Investment Management LLC grew its position in Diamondback Energy by 17,151.2% during the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after acquiring an additional 338,050 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Truist Financial boosted their price target on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. UBS Group boosted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.17.

Diamondback Energy Trading Down 0.1 %

Shares of NASDAQ FANG opened at $156.76 on Wednesday. The stock’s 50 day moving average price is $165.94 and its two-hundred day moving average price is $177.41. Diamondback Energy, Inc. has a 52-week low of $152.00 and a 52-week high of $214.50. The stock has a market capitalization of $45.77 billion, a P/E ratio of 8.97, a PEG ratio of 1.24 and a beta of 1.86. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

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.