Atria Wealth Solutions Inc. Sells 8,760 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Atria Wealth Solutions Inc. reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 33.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,642 shares of the oil and natural gas company’s stock after selling 8,760 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Diamondback Energy were worth $2,890,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp grew its position in shares of Diamondback Energy by 1.3% in the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after buying an additional 149,871 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after purchasing an additional 230,689 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Diamondback Energy by 25.6% in 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 purchasing an additional 439,579 shares during the period. Finally, Yacktman Asset Management LP lifted its stake in shares of Diamondback Energy by 9.3% in the 4th quarter. Yacktman Asset Management LP now owns 1,388,434 shares of the oil and natural gas company’s stock valued at $227,467,000 after purchasing an additional 118,603 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $156.12 on Friday. 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 company has a market capitalization of $45.59 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.22 and a beta of 1.86. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50. The business’s 50-day moving average is $165.74 and its 200 day moving average is $176.96.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FANG shares. UBS Group raised their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley raised their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Raymond James lifted their price objective on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $216.52.

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.