Portfolio Design Labs LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Portfolio Design Labs LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,499 shares of the oil and natural gas company’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of 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 valued at $372,196,000 after purchasing an additional 439,579 shares during the last quarter. Finally, Yacktman Asset Management LP increased its holdings in shares of Diamondback Energy by 9.3% in the fourth quarter. Yacktman Asset Management LP now owns 1,388,434 shares of the oil and natural gas company’s stock valued at $227,467,000 after purchasing an additional 118,603 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group cut their price target on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a report on Monday, December 9th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. KeyCorp cut their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Susquehanna cut their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Trading Down 4.0 %

NASDAQ:FANG opened at $155.46 on Thursday. The firm has a market cap of $45.39 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The stock has a fifty day moving average price of $166.98 and a 200 day moving average price of $178.62. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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.