Lord & Richards Wealth Management LLC Makes New $505,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Lord & Richards Wealth Management LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, Holdings Channel.com reports. The firm acquired 3,082 shares of the oil and natural gas company’s stock, valued at approximately $505,000.

Several other large investors have also recently bought and sold shares of the business. Swedbank AB increased its position in shares of Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after buying an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after buying an additional 37,246 shares in the last quarter. Franklin Resources Inc. increased its position in Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Tectonic Advisors LLC increased its position in Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after purchasing an additional 8,704 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its position in Diamondback Energy by 368.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after purchasing an additional 7,694 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FANG shares. Truist Financial lifted their price objective on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, Piper Sandler dropped their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.17.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $156.99 on Friday. The firm has a market capitalization of $45.84 billion, a P/E ratio of 8.99, a P/E/G 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 debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business’s 50-day simple moving average is $166.34 and its 200-day simple moving average is $178.30.

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.