1,499 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,499 shares of the oil and natural gas company’s stock, valued at approximately $246,000.

Several other large investors have also added to or reduced their stakes in the company. Financial Advocates Investment Management grew its stake in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after purchasing an additional 55 shares during the last quarter. Greenup Street Wealth Management LLC grew its stake in Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after purchasing an additional 60 shares during the last quarter. Lakewood Asset Management LLC grew its stake in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares during the last quarter. West Family Investments Inc. grew its stake in Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 61 shares during the last quarter. Finally, Magnolia Capital Advisors LLC grew its stake in Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on FANG shares. Mizuho dropped their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. UBS Group decreased their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a report on Monday, December 9th. Piper Sandler decreased their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. 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 report on Tuesday, December 17th. Finally, Truist Financial boosted their price objective on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $155.46 on Thursday. The company has a market cap of $45.39 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The stock’s 50 day simple moving average is $166.98 and its 200-day simple moving average is $178.62. Diamondback Energy, Inc. has a 1-year low of $152.00 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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.