Navellier & Associates Inc. Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Navellier & Associates Inc. raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,718 shares of the oil and natural gas company’s stock after purchasing an additional 358 shares during the period. Navellier & Associates Inc.’s holdings in Diamondback Energy were worth $1,592,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FANG. Foundations Investment Advisors LLC increased its position in Diamondback Energy by 14.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 5,180 shares of the oil and natural gas company’s stock valued at $893,000 after purchasing an additional 640 shares during the period. Sequoia Financial Advisors LLC increased its position in Diamondback Energy by 11.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,266 shares of the oil and natural gas company’s stock valued at $1,080,000 after purchasing an additional 636 shares during the period. Signaturefd LLC increased its position in Diamondback Energy by 2.4% during the 3rd quarter. Signaturefd LLC now owns 3,944 shares of the oil and natural gas company’s stock valued at $680,000 after purchasing an additional 92 shares during the period. Hartford Investment Management Co. increased its position in Diamondback Energy by 2.7% during the 3rd quarter. Hartford Investment Management Co. now owns 11,790 shares of the oil and natural gas company’s stock valued at $2,033,000 after purchasing an additional 307 shares during the period. Finally, International Assets Investment Management LLC increased its position in Diamondback Energy by 17,151.2% during the 3rd quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after purchasing an additional 338,050 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $156.12 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50. The company has a 50 day simple moving average of $165.74 and a two-hundred day simple moving average of $176.96. The stock has a market cap of $45.59 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.22 and a beta of 1.86.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FANG. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Mizuho lowered their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. 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 report on Friday, January 3rd. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group began coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.52.

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.