Creative Planning cut its stake in Diamondback Energy Inc (NASDAQ:FANG) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,522 shares of the oil and natural gas company’s stock after selling 237 shares during the period. Creative Planning’s holdings in Diamondback Energy were worth $234,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FANG. CNB Bank acquired a new position in shares of Diamondback Energy during the 4th quarter worth $30,000. FNY Investment Advisers LLC raised its holdings in shares of Diamondback Energy by 4,118.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock worth $41,000 after buying an additional 453 shares in the last quarter. Evoke Wealth LLC acquired a new position in shares of Diamondback Energy during the 3rd quarter worth $45,000. Baystate Wealth Management LLC raised its holdings in shares of Diamondback Energy by 10,766.7% during the 4th quarter. Baystate Wealth Management LLC now owns 652 shares of the oil and natural gas company’s stock worth $61,000 after buying an additional 646 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Diamondback Energy by 1,243.1% during the 4th quarter. Huntington National Bank now owns 685 shares of the oil and natural gas company’s stock worth $64,000 after buying an additional 634 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.
FANG has been the subject of a number of research analyst reports. Oppenheimer cut Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $138.00 price target for the company. in a report on Thursday, November 7th. Morgan Stanley lowered their price target on Diamondback Energy from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Imperial Capital reissued an “outperform” rating and set a $110.00 price target (up previously from $88.00) on shares of Diamondback Energy in a report on Tuesday, January 14th. Johnson Rice cut Diamondback Energy from a “buy” rating to an “accumulate” rating in a report on Tuesday, November 19th. Finally, TD Securities lowered their price target on Diamondback Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and an average target price of $131.05.
Shares of FANG stock opened at $74.97 on Friday. The firm has a market capitalization of $11.96 billion, a P/E ratio of 12.92, a P/E/G ratio of 0.66 and a beta of 0.98. Diamondback Energy Inc has a twelve month low of $71.72 and a twelve month high of $114.14. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $85.05 and its 200 day simple moving average is $87.79.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
Recommended Story: What is a capital gain?
Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy Inc (NASDAQ:FANG).
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.