Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 32.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 298,791 shares of the oil and natural gas company's stock after selling 143,852 shares during the period. Principal Financial Group Inc. owned 0.10% of Diamondback Energy worth $48,952,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. increased its stake in Diamondback Energy by 247.3% in the 4th 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 during the period. Values First Advisors Inc. acquired a new position in Diamondback Energy in the 3rd quarter valued at $42,000. Ashton Thomas Securities LLC acquired a new position in Diamondback Energy in the 3rd quarter valued at $52,000. Finally, Synergy Asset Management LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Trading Down 3.7 %

NASDAQ FANG traded down $5.97 during mid-day trading on Friday, reaching $156.12. 3,935,348 shares of the stock were exchanged, compared to its average volume of 2,088,174. Diamondback Energy, Inc. has a 1-year low of $152.00 and a 1-year high of $214.50. The business's fifty day simple moving average is $165.74 and its 200 day simple moving average is $176.96. 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 stock has a market capitalization of $45.59 billion, a PE ratio of 8.94, a PEG ratio of 1.22 and a beta of 1.86.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FANG shares. Benchmark reiterated a "buy" rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Piper Sandler dropped their price objective on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upped their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, StockNews.com upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, November 13th. Four 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 company. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.52.

Diamondback Energy 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.