Allspring Global Investments Holdings LLC Sells 5,492 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Allspring Global Investments Holdings LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 145,719 shares of the oil and natural gas company’s stock after selling 5,492 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Diamondback Energy were worth $24,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FANG. Davidson Capital Management Inc. lifted its position in Diamondback Energy by 15.5% in the 4th quarter. Davidson Capital Management Inc. now owns 19,072 shares of the oil and natural gas company’s stock worth $3,125,000 after buying an additional 2,564 shares during the last quarter. Gladstone Institutional Advisory LLC raised its stake in shares of Diamondback Energy by 1.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,923 shares of the oil and natural gas company’s stock worth $643,000 after acquiring an additional 74 shares in the last quarter. Capital Advisors Inc. OK bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $316,000. Louisiana State Employees Retirement System boosted its stake in shares of Diamondback Energy by 29.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the oil and natural gas company’s stock valued at $5,144,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Portfolio Design Labs LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at $246,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $156.99 on Friday. The company’s fifty day moving average price is $166.15 and its 200-day moving average price is $178.01. The stock has a market cap of $45.84 billion, a PE ratio of 8.99, a price-to-earnings-growth 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. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50.

Analysts Set New Price Targets

Several analysts have issued reports on FANG shares. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research report on Friday, January 3rd. Raymond James increased their target price on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group started coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.17.

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.