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

Boothe Investment Group Inc. boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 33.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,097 shares of the oil and natural gas company’s stock after buying an additional 5,022 shares during the quarter. Diamondback Energy accounts for approximately 1.4% of Boothe Investment Group Inc.’s portfolio, making the stock its 25th largest holding. Boothe Investment Group Inc.’s holdings in Diamondback Energy were worth $3,292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in shares of Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after purchasing an additional 1,042,505 shares in the last quarter. Zimmer Partners LP purchased a new stake in shares of Diamondback Energy in the third quarter valued at about $87,924,000. Holocene Advisors LP lifted its holdings in shares of Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after purchasing an additional 457,896 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Diamondback Energy by 17,151.2% in the third 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 in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wolfe Research raised 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. JPMorgan Chase & Co. upped their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. UBS Group upped their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Piper Sandler reduced their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $216.22.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $156.12 on Monday. Diamondback Energy, Inc. has a 52-week low of $152.00 and a 52-week high of $214.50. The firm has a fifty day moving average of $165.60 and a 200-day moving average of $176.57. The firm has a market capitalization of $45.59 billion, a P/E ratio of 8.94, a PEG ratio of 1.24 and a beta of 1.86. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

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.