Apollon Wealth Management LLC Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Apollon Wealth Management LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 23.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,339 shares of the oil and natural gas company’s stock after purchasing an additional 644 shares during the period. Apollon Wealth Management LLC’s holdings in Diamondback Energy were worth $547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FANG. Assenagon Asset Management S.A. lifted its holdings in Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after buying an additional 1,042,505 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth about $87,924,000. Holocene Advisors LP lifted its stake in Diamondback Energy by 95.3% during the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after purchasing an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in 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 increased its stake in 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 during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FANG. Raymond James boosted their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Susquehanna reduced their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group assumed coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Stock Down 4.0 %

Shares of NASDAQ:FANG opened at $155.46 on Thursday. The company has a market cap of $45.39 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The firm’s 50-day simple moving average is $166.98 and its 200-day simple moving average is $178.62. 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.