Howard Capital Management Inc. Buys 641 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Howard Capital Management Inc. raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,479 shares of the oil and natural gas company’s stock after purchasing an additional 641 shares during the period. Howard Capital Management Inc.’s holdings in Diamondback Energy were worth $1,061,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $29,000. UMB Bank n.a. boosted its holdings in 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 worth $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc grew its stake in 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 acquiring an additional 188 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Diamondback Energy during the third quarter valued at approximately $52,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth approximately $67,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $156.12 on Monday. 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 cap of $45.59 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50. The firm’s 50-day simple moving average is $165.60 and its two-hundred day simple moving average is $176.57.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FANG shares. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Morgan Stanley lifted their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Truist Financial upped their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.22.

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.