GFG Capital LLC Buys Shares of 3,200 Diamondback Energy, Inc. (NASDAQ:FANG)

GFG Capital LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,200 shares of the oil and natural gas company’s stock, valued at approximately $524,000.

Several other large investors have also modified their holdings of FANG. Exchange Traded Concepts LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth $87,000. Creative Planning increased its position in Diamondback Energy by 3.0% during the 3rd quarter. Creative Planning now owns 34,391 shares of the oil and natural gas company’s stock worth $5,929,000 after purchasing an additional 1,004 shares in the last quarter. Swedbank AB increased its position in Diamondback Energy by 69.2% during the 3rd quarter. Swedbank AB now owns 154,922 shares of the oil and natural gas company’s stock worth $26,709,000 after purchasing an additional 63,360 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in Diamondback Energy by 5.2% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,732 shares of the oil and natural gas company’s stock worth $471,000 after purchasing an additional 135 shares in the last quarter. Finally, Paragon Capital Management Inc. acquired a new stake in Diamondback Energy in the 3rd quarter worth about $666,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FANG shares. Truist Financial raised their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Piper Sandler reduced their price objective 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, Benchmark reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $215.17.

Diamondback Energy Trading Up 0.5 %

Shares of Diamondback Energy stock opened at $156.17 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $45.60 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The business has a fifty day simple moving average of $166.67 and a 200-day simple moving average of $178.46. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50.

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.