Forte Capital LLC ADV Has $7.09 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Forte Capital LLC ADV lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,278 shares of the oil and natural gas company’s stock after selling 135 shares during the quarter. Forte Capital LLC ADV’s holdings in Diamondback Energy were worth $7,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. boosted its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares during the period. Key Financial Inc boosted its holdings in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the period. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy in the third quarter valued at approximately $42,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy in the third quarter valued at approximately $52,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 1.1 %

FANG stock opened at $162.09 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’s 50-day simple moving average is $165.74 and its 200 day simple moving average is $177.07. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50. The company has a market capitalization of $47.33 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 1.21 and a beta of 1.86.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FANG shares. Morgan Stanley upped their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Mizuho cut their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.52.

About Diamondback Energy

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.