Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Boothe Investment Group Inc.

Boothe Investment Group Inc. boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 33.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,097 shares of the oil and natural gas company’s stock after purchasing an additional 5,022 shares during the period. Diamondback Energy makes up 1.4% of Boothe Investment Group Inc.’s portfolio, making the stock its 25th biggest position. Boothe Investment Group Inc.’s holdings in Diamondback Energy were worth $3,292,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FANG. R Squared Ltd bought a new position in Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. lifted its position in shares of 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 worth $31,000 after buying an additional 136 shares during the last quarter. Key Financial Inc lifted its position in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy in the 3rd quarter worth about $52,000. Finally, Synergy Asset Management LLC bought a new position in shares of Diamondback Energy in the 4th quarter worth about $67,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FANG shares. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Morgan Stanley raised their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Mizuho cut their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Raymond James lifted their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Four 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $216.22.

Diamondback Energy Stock Performance

Shares of FANG opened at $156.12 on Monday. The firm’s 50 day moving average is $165.60 and its 200-day moving average is $176.57. The stock has a market capitalization of $45.59 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month high of $214.50.

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.