Diamondback Energy, Inc. (NASDAQ:FANG) Position Increased by Americana Partners LLC

Americana Partners LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,850 shares of the oil and natural gas company’s stock after acquiring an additional 714 shares during the period. Americana Partners LLC’s holdings in Diamondback Energy were worth $2,269,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new position in Diamondback Energy during the 3rd quarter worth approximately $87,000. Creative Planning lifted its holdings in shares of Diamondback Energy by 3.0% in the third quarter. Creative Planning now owns 34,391 shares of the oil and natural gas company’s stock valued at $5,929,000 after purchasing an additional 1,004 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Diamondback Energy by 44.1% in the third quarter. Global Retirement Partners LLC now owns 4,003 shares of the oil and natural gas company’s stock worth $690,000 after buying an additional 1,225 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of Diamondback Energy by 10.7% during the third quarter. Bleakley Financial Group LLC now owns 4,405 shares of the oil and natural gas company’s stock valued at $759,000 after buying an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Diamondback Energy by 2.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,467 shares of the oil and natural gas company’s stock valued at $3,184,000 after buying an additional 513 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Raymond James lifted their target price 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. UBS Group boosted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Truist Financial boosted their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler cut their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.17.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $156.99 on Tuesday. The firm has a market capitalization of $45.84 billion, a PE ratio of 8.99, a PEG ratio of 1.24 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 company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $166.15 and its 200 day simple moving average is $177.70.

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.