Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 38.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,612 shares of the oil and natural gas company’s stock after purchasing an additional 5,427 shares during the period. D.A. Davidson & CO.’s holdings in Diamondback Energy were worth $3,213,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. R Squared Ltd acquired a new position in Diamondback Energy in the 4th quarter valued at $29,000. UMB Bank n.a. raised its holdings 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 acquiring an additional 136 shares during the last quarter. 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. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $162.09 on Friday. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $47.33 billion, a P/E ratio of 9.28, a P/E/G ratio of 1.21 and a beta of 1.86. The company’s fifty day moving average price is $165.74 and its two-hundred day moving average price is $177.07.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Morgan Stanley boosted their price target on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.52.

Diamondback Energy Company 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.