D.A. Davidson & CO. Acquires 5,427 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

D.A. Davidson & CO. increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,612 shares of the oil and natural gas company's stock after purchasing an additional 5,427 shares during the period. D.A. Davidson & CO.'s holdings in Diamondback Energy were worth $3,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FANG. R Squared Ltd acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $29,000. UMB Bank n.a. raised 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 buying an additional 136 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the third quarter valued at approximately $52,000. Finally, Synergy Asset Management LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Down 3.7 %

Diamondback Energy stock traded down $5.97 during mid-day trading on Friday, hitting $156.12. 3,935,348 shares of the company's stock were exchanged, compared to its average volume of 2,088,174. 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 stock has a market cap 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 1-year low of $152.00 and a 1-year high of $214.50. The stock has a 50 day moving average of $165.74 and a two-hundred day moving average of $176.96.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FANG. Wells Fargo & Company increased their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Piper Sandler decreased 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. Truist Financial increased their price target on Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Mizuho decreased their price target on Diamondback Energy from $219.00 to $207.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $216.52.

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.