Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Key Financial Inc

Key Financial Inc grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 940.0% in the 4th quarter, Holdings Channel reports. The firm owned 208 shares of the oil and natural gas company’s stock after acquiring an additional 188 shares during the quarter. Key Financial Inc’s holdings in Diamondback Energy were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of 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 valued at $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of 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 during the last quarter. Finally, Yacktman Asset Management LP grew its holdings in shares of Diamondback Energy by 9.3% during 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 purchasing an additional 118,603 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of several recent research reports. The Goldman Sachs Group began coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Mizuho decreased 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. UBS Group increased their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Truist Financial increased 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. Finally, Raymond James increased their price objective on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $215.17.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $156.76 on Wednesday. Diamondback Energy, Inc. has a one year low of $152.00 and a one year high of $214.50. The stock has a fifty day moving average of $165.94 and a 200-day moving average of $177.41. The company has a market capitalization of $45.77 billion, a PE ratio of 8.97, 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 quick ratio of 0.42 and a current ratio of 0.45.

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.