Freedom Day Solutions LLC Has $1.52 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Freedom Day Solutions LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,304 shares of the oil and natural gas company’s stock after selling 174 shares during the period. Freedom Day Solutions LLC’s holdings in Diamondback Energy were worth $1,524,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FANG. Assenagon Asset Management S.A. raised its position in Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after purchasing an additional 1,042,505 shares in the last quarter. Zimmer Partners LP acquired a new position in Diamondback Energy in the third quarter worth about $87,924,000. Holocene Advisors LP raised its position in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after purchasing an additional 457,896 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Diamondback Energy by 17,151.2% during the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock worth $58,620,000 after buying an additional 338,050 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on FANG. Raymond James upped their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Piper Sandler decreased their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Morgan Stanley upped their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $216.52.

Diamondback Energy Price Performance

Shares of FANG stock opened at $160.26 on Thursday. Diamondback Energy, Inc. has a 52-week low of $152.00 and a 52-week high of $214.50. The stock has a market cap of $46.79 billion, a PE ratio of 9.17, a PEG ratio of 1.22 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. The firm’s 50 day moving average price is $165.82 and its two-hundred day moving average price is $177.18.

Diamondback Energy 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.