Strategic Financial Concepts LLC Buys Shares of 84,257 Diamondback Energy, Inc. (NASDAQ:FANG)

Strategic Financial Concepts LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, Holdings Channel.com reports. The fund purchased 84,257 shares of the oil and natural gas company’s stock, valued at approximately $13,804,000.

Several other large investors also recently modified their holdings of FANG. Assenagon Asset Management S.A. grew its holdings in shares of Diamondback Energy by 1,153.0% in the fourth 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 acquiring an additional 1,042,505 shares during the period. Zimmer Partners LP bought a new stake in shares of Diamondback Energy in the third quarter worth $87,924,000. Holocene Advisors LP grew its holdings in shares of Diamondback Energy by 95.3% in 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 acquiring an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Diamondback Energy by 25.6% during 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 lifted its position in Diamondback Energy by 17,151.2% during 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 in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FANG shares. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Mizuho lowered their target price on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. Finally, Wells Fargo & Company boosted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.17.

Diamondback Energy Stock Up 0.5 %

NASDAQ FANG opened at $156.99 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market capitalization of $45.84 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a one year low of $152.00 and a one year high of $214.50. The stock has a 50 day moving average price of $166.15 and a 200-day moving average price of $178.01.

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.