Schear Investment Advisers LLC cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 54.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,118 shares of the oil and natural gas company's stock after selling 8,569 shares during the period. Schear Investment Advisers LLC's holdings in Diamondback Energy were worth $1,166,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Portfolio Design Labs LLC bought a new stake in Diamondback Energy during the fourth quarter worth approximately $246,000. Yacktman Asset Management LP raised its holdings 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 worth $227,467,000 after purchasing an additional 118,603 shares in the last quarter. Cigna Investments Inc. New raised its holdings in Diamondback Energy by 5.2% during the fourth quarter. Cigna Investments Inc. New now owns 1,938 shares of the oil and natural gas company's stock worth $318,000 after purchasing an additional 96 shares in the last quarter. Peterson Wealth Services raised its holdings in Diamondback Energy by 0.5% during the fourth quarter. Peterson Wealth Services now owns 21,507 shares of the oil and natural gas company's stock worth $3,524,000 after purchasing an additional 104 shares in the last quarter. Finally, Clarus Group Inc. raised its holdings in Diamondback Energy by 3.4% during the fourth quarter. Clarus Group Inc. now owns 4,685 shares of the oil and natural gas company's stock worth $768,000 after purchasing an additional 156 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have issued reports on FANG. Raymond James upped their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. UBS Group upped their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a report on Thursday. Susquehanna dropped their price target on Diamondback Energy from $237.00 to $233.00 and set a "positive" rating on the stock in a report on Friday, October 18th. Finally, Truist Financial upped their price target on Diamondback Energy from $230.00 to $236.00 and gave the company a "buy" rating in a report on Monday, January 13th. Four investment 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.com, Diamondback Energy currently has an average rating of "Moderate Buy" and a consensus price target of $215.17.
Check Out Our Latest Report on FANG
Diamondback Energy Stock Up 0.5 %
Shares of Diamondback Energy stock traded up $0.82 on Friday, hitting $156.99. 3,073,849 shares of the company traded hands, compared to its average volume of 1,864,394. The company has a 50-day moving average price of $166.15 and a 200 day moving average price of $178.01. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month high of $214.50. The company has a market cap of $45.84 billion, a PE ratio of 8.99, a PEG ratio of 1.24 and a beta of 1.86.
Diamondback Energy Company Profile
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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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