Invera Wealth Advisors LLC Lowers Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Invera Wealth Advisors LLC trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,034 shares of the oil and natural gas company’s stock after selling 1,181 shares during the quarter. Diamondback Energy comprises about 1.2% of Invera Wealth Advisors LLC’s portfolio, making the stock its 24th largest position. Invera Wealth Advisors LLC’s holdings in Diamondback Energy were worth $1,243,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FANG. R Squared Ltd acquired a new position in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. increased its stake in 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 valued at $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc grew its position in shares of Diamondback Energy by 940.0% during the fourth 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 during the last quarter. Values First Advisors Inc. bought a new position in shares of Diamondback Energy during the third quarter worth about $42,000. Finally, Ashton Thomas Securities LLC bought a new position in Diamondback Energy in the 3rd quarter valued at about $52,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on FANG shares. UBS Group upped their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased 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. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.52.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $160.26 on Thursday. The company has a market capitalization of $46.79 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.22 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a 50-day simple moving average of $165.82 and a 200 day simple moving average of $177.18. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50.

About Diamondback Energy

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.