Atria Wealth Solutions Inc. Decreases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Atria Wealth Solutions Inc. cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 33.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,642 shares of the oil and natural gas company’s stock after selling 8,760 shares during the period. Atria Wealth Solutions Inc.’s holdings in Diamondback Energy were worth $2,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FANG. R Squared Ltd bought a new stake in Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. boosted its position in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at $42,000. Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at $52,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at $67,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $156.12 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. 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 firm has a market capitalization of $45.59 billion, a P/E ratio of 8.94, a PEG ratio of 1.22 and a beta of 1.86. The stock has a 50-day simple moving average of $165.74 and a two-hundred day simple moving average of $176.96.

Analysts Set New Price Targets

Several analysts have recently commented on FANG shares. Truist Financial increased their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James increased their price objective on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, Morgan Stanley raised their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $216.52.

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.