Davidson Investment Advisors Sells 4,506 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Davidson Investment Advisors reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,171 shares of the oil and natural gas company’s stock after selling 4,506 shares during the period. Davidson Investment Advisors’ holdings in Diamondback Energy were worth $9,366,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in Diamondback Energy by 1.3% in the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after purchasing an additional 266,299 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Diamondback Energy by 9.3% during the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after acquiring an additional 230,689 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Diamondback Energy by 25.6% in the 3rd 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 during the period. Finally, Yacktman Asset Management LP boosted its holdings in shares of Diamondback Energy by 9.3% in the fourth quarter. Yacktman Asset Management LP now owns 1,388,434 shares of the oil and natural gas company’s stock valued at $227,467,000 after buying an additional 118,603 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Performance

FANG stock opened at $156.99 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $152.00 and a 1 year high of $214.50. The company has a market cap of $45.84 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock’s fifty day moving average price is $166.15 and its 200-day moving average price is $177.70.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. Mizuho reduced their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Piper Sandler lowered their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Raymond James lifted 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 note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price 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.