Principal Financial Group Inc. Sells 143,852 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Principal Financial Group Inc. reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 32.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 298,791 shares of the oil and natural gas company’s stock after selling 143,852 shares during the quarter. Principal Financial Group Inc.’s holdings in Diamondback Energy were worth $48,952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Advocates Investment Management increased its holdings in Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Lakewood Asset Management LLC increased its holdings in Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after purchasing an additional 60 shares in the last quarter. West Family Investments Inc. increased its holdings in Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after purchasing an additional 61 shares in the last quarter. Magnolia Capital Advisors LLC increased its holdings in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock worth $482,000 after purchasing an additional 65 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 1.1 %

NASDAQ FANG opened at $162.09 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business’s 50-day moving average is $165.74 and its 200 day moving average is $177.07. Diamondback Energy, Inc. has a 1 year low of $152.00 and a 1 year high of $214.50. The stock has a market capitalization of $47.33 billion, a PE ratio of 9.28, a PEG ratio of 1.21 and a beta of 1.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Raymond James upped their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. Morgan Stanley upped their price target on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, Truist Financial upped their price target on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $216.52.

Diamondback Energy Company 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.