Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Principal Securities Inc.

Principal Securities Inc. boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,530 shares of the oil and natural gas company’s stock after purchasing an additional 540 shares during the quarter. Principal Securities Inc.’s holdings in Diamondback Energy were worth $906,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creative Planning lifted its holdings in shares of Diamondback Energy by 3.0% in the third quarter. Creative Planning now owns 34,391 shares of the oil and natural gas company’s stock valued at $5,929,000 after buying an additional 1,004 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Diamondback Energy by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 151,211 shares of the oil and natural gas company’s stock valued at $26,069,000 after purchasing an additional 2,327 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Diamondback Energy by 14.1% during the third 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 last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Diamondback Energy by 11.3% during the third 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 last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Diamondback Energy by 2.4% during the third 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 last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 1.1 %

Shares of FANG stock opened at $162.09 on Friday. The stock has a 50 day simple moving average of $165.74 and a 200 day simple moving average of $177.07. 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 1 year low of $152.00 and a 1 year high of $214.50. The stock has a market cap of $47.33 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 1.21 and a beta of 1.86.

Analyst Ratings Changes

Several brokerages have recently commented on FANG. Morgan Stanley upped their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group increased their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Truist Financial increased their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $216.52.

Diamondback Energy 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.