RPG Investment Advisory LLC Sells 1,070 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

RPG Investment Advisory LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,756 shares of the oil and natural gas company’s stock after selling 1,070 shares during the period. Diamondback Energy accounts for 1.6% of RPG Investment Advisory LLC’s holdings, making the stock its 23rd biggest position. RPG Investment Advisory LLC’s holdings in Diamondback Energy were worth $12,247,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Financial Advocates Investment Management increased its position in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares during the period. Lakewood Asset Management LLC increased its position in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after buying an additional 60 shares during the period. West Family Investments Inc. increased its position in Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after buying an additional 61 shares during the period. Magnolia Capital Advisors LLC increased its position in Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after buying an additional 64 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in Diamondback Energy by 2.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock worth $482,000 after buying an additional 65 shares during the period. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FANG shares. Piper Sandler reduced their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Benchmark reissued a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. The Goldman Sachs Group started coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. UBS Group increased their target price on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Mizuho reduced their target price on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.22.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $156.12 on Monday. The business’s 50-day moving average price is $165.60 and its 200-day moving average price is $176.57. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50. The firm has a market capitalization of $45.59 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.24 and a beta of 1.86. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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.