D.A. Davidson & CO. Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

D.A. Davidson & CO. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 38.3% during the 4th quarter, according to the company in its most recent disclosure with the 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 quarter. D.A. Davidson & CO.’s holdings in Diamondback Energy were worth $3,213,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Diamondback Energy during the fourth quarter worth about $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy during the third quarter worth about $42,000. Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy during the third quarter worth about $52,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Diamondback Energy during the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $162.09 on Friday. The firm has a 50 day moving average of $165.74 and a 200-day moving average of $177.07. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $47.33 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.21 and a beta of 1.86.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FANG shares. Wolfe Research raised 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. UBS Group raised their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Morgan Stanley raised their price target on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.