Rhumbline Advisers Acquires 5,882 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Rhumbline Advisers grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 341,231 shares of the oil and natural gas company's stock after acquiring an additional 5,882 shares during the period. Rhumbline Advisers owned 0.12% of Diamondback Energy worth $55,904,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FANG. State Street Corp lifted its holdings 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 purchasing an additional 149,871 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 6.1% during the third 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 buying an additional 266,299 shares during the period. Pacer Advisors Inc. lifted its holdings 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 worth $466,259,000 after buying an additional 230,689 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Diamondback Energy by 25.6% in the third 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 acquiring an additional 439,579 shares during the period. Finally, Yacktman Asset Management LP grew its stake in Diamondback Energy by 9.3% during the fourth 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 in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Up 1.1 %

FANG stock traded up $1.83 during trading on Thursday, hitting $162.09. 2,351,183 shares of the company traded hands, compared to its average volume of 2,032,160. The company has a 50-day moving average of $165.74 and a 200-day moving average of $177.07. 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 1 year low of $152.00 and a 1 year high of $214.50. The firm has a market capitalization of $47.33 billion, a PE ratio of 9.28, a P/E/G ratio of 1.21 and a beta of 1.86.

Analysts Set New Price Targets

Several analysts have issued reports on FANG shares. StockNews.com upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, November 13th. Truist Financial increased their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday. 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. Wells Fargo & Company upped their target price on Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.