Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 36.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,282 shares of the oil and natural gas company’s stock after purchasing an additional 1,962 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Diamondback Energy were worth $1,193,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Swedbank AB grew 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 purchasing an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew 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 purchasing an additional 37,246 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Tectonic Advisors LLC grew its position in shares of Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after purchasing an additional 8,704 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after purchasing an additional 7,694 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $156.12 on Friday. 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. The company’s fifty day moving average price is $165.60 and its two-hundred day moving average price is $176.76. The firm 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FANG. Piper Sandler decreased their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. UBS Group lifted their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $216.22.

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.