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

Howard Capital Management Inc. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,479 shares of the oil and natural gas company’s stock after buying 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 filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of FANG. R Squared Ltd bought a new position in Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. lifted its position in shares of Diamondback Energy by 247.3% during 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 lifted its position in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy in the third quarter worth $52,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 3.7 %

Shares of NASDAQ FANG opened at $156.12 on Monday. The stock has a market capitalization of $45.59 billion, a P/E ratio of 8.94, a PEG ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a one year low of $152.00 and a one year 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. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Wall Street Analyst Weigh In

FANG has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Raymond James increased their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research note on Friday, January 3rd. Finally, Mizuho reduced their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $216.22.

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.