Nations Financial Group Inc. IA ADV Increases Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Nations Financial Group Inc. IA ADV lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,859 shares of the oil and natural gas company’s stock after purchasing an additional 319 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Diamondback Energy were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Rhumbline Advisers raised its stake in shares of Diamondback Energy by 1.8% in the fourth quarter. Rhumbline Advisers now owns 341,231 shares of the oil and natural gas company’s stock worth $55,904,000 after purchasing an additional 5,882 shares during the last quarter. New Mexico Educational Retirement Board raised its stake in shares of Diamondback Energy by 2.3% in the fourth quarter. New Mexico Educational Retirement Board now owns 8,900 shares of the oil and natural gas company’s stock worth $1,458,000 after purchasing an additional 200 shares during the last quarter. GFG Capital LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth $524,000. V Square Quantitative Management LLC raised its stake in shares of Diamondback Energy by 24.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,375 shares of the oil and natural gas company’s stock worth $389,000 after purchasing an additional 474 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Diamondback Energy by 9.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 73,309 shares of the oil and natural gas company’s stock worth $11,608,000 after purchasing an additional 6,508 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FANG. Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Mizuho cut their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Truist Financial lifted their price objective on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group lifted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Four equities 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 stock has a consensus rating of “Moderate Buy” and an average target price of $215.17.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $156.99 on Friday. The firm has a market cap of $45.84 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth 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. The business has a 50-day moving average price of $166.15 and a 200-day moving average price of $178.01. Diamondback Energy, Inc. has a twelve month low of $152.00 and a twelve month high of $214.50.

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.