Private Advisor Group LLC Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Private Advisor Group LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 15.0% during the 4th quarter, HoldingsChannel reports. The fund owned 21,974 shares of the oil and natural gas company’s stock after buying an additional 2,859 shares during the period. Private Advisor Group LLC’s holdings in Diamondback Energy were worth $3,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FANG. State Street Corp grew its stake in shares of Diamondback Energy by 1.3% in the third 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 acquiring an additional 149,871 shares during the period. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 6.1% during 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 position in shares of Diamondback Energy by 9.3% in the third 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 acquiring an additional 230,689 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in 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 buying an additional 439,579 shares in the last quarter. Finally, Yacktman Asset Management LP increased its holdings in 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 acquiring an additional 118,603 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FANG shares. UBS Group boosted their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Truist Financial boosted their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Benchmark restated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. Piper Sandler dropped their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $216.22.

Diamondback Energy Stock Down 3.7 %

FANG stock opened at $156.12 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a one year low of $152.00 and a one year high of $214.50. The firm’s fifty day moving average is $165.60 and its 200 day moving average is $176.57. The firm has a market cap of $45.59 billion, a PE ratio of 8.94, a P/E/G ratio of 1.24 and a beta of 1.86.

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.