Adell Harriman & Carpenter Inc. Trims Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Adell Harriman & Carpenter Inc. cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,646 shares of the oil and natural gas company’s stock after selling 561 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Diamondback Energy were worth $925,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. GFG Capital LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $524,000. V Square Quantitative Management LLC raised its stake in shares of Diamondback Energy by 24.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,375 shares of the oil and natural gas company’s stock valued at $389,000 after acquiring an additional 474 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Diamondback Energy by 9.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 73,309 shares of the oil and natural gas company’s stock valued at $11,608,000 after acquiring an additional 6,508 shares during the period. Buckhead Capital Management LLC raised its stake in shares of Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after acquiring an additional 67 shares during the period. Finally, Avestar Capital LLC raised its stake in shares of Diamondback Energy by 5.9% in the 4th quarter. Avestar Capital LLC now owns 2,502 shares of the oil and natural gas company’s stock valued at $410,000 after acquiring an additional 139 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 0.5 %

Shares of Diamondback Energy stock opened at $156.99 on Friday. The company has a fifty day simple moving average of $166.34 and a 200-day simple moving average of $178.30. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $45.84 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.24 and a beta of 1.86.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FANG. Susquehanna reduced their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. Mizuho dropped their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Piper Sandler dropped their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.17.

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.