Legacy Capital Wealth Partners LLC cut its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 52.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,006 shares of the oil and natural gas company's stock after selling 3,367 shares during the quarter. Legacy Capital Wealth Partners LLC's holdings in Diamondback Energy were worth $492,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Diamondback Energy by 1.3% during 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 raised its position 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 last quarter. Pacer Advisors Inc. boosted its stake in 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 worth $466,259,000 after purchasing an additional 230,689 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position 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 worth $372,196,000 after purchasing an additional 439,579 shares during the last quarter. Finally, Yacktman Asset Management LP increased its stake in Diamondback Energy by 9.3% during 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 in the last quarter. 90.01% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently issued reports on FANG. The Goldman Sachs Group initiated coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a "buy" rating and a $227.00 target price on the stock. Mizuho cut their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Wolfe Research raised shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price for the company in a report on Friday, January 3rd. Raymond James boosted their price objective on Diamondback Energy from $237.00 to $256.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 23rd. Finally, 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 note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $216.52.
Get Our Latest Report on Diamondback Energy
Diamondback Energy Price Performance
FANG traded up $1.83 on Thursday, hitting $162.09. 2,351,183 shares of the company were exchanged, compared to its average volume of 2,032,160. The business's fifty day moving average is $165.74 and its 200 day moving average is $177.07. The firm has a market capitalization of $47.33 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 1.21 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. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50.
About Diamondback Energy
(
Free Report)
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.
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