ICICI Prudential Asset Management Co Ltd Purchases 1,474 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

ICICI Prudential Asset Management Co Ltd raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 63.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,802 shares of the oil and natural gas company’s stock after buying an additional 1,474 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Diamondback Energy were worth $623,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $29,000. UMB Bank n.a. grew its stake in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares during the period. Key Financial Inc grew its stake in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the period. Values First Advisors Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter valued at approximately $42,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the 3rd quarter valued at approximately $52,000. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FANG. JPMorgan Chase & Co. boosted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Benchmark reissued a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. UBS Group boosted their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $215.17.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $156.76 on Wednesday. The business’s 50 day moving average price is $165.94 and its 200-day moving average price is $177.41. The company has a market cap of $45.77 billion, a P/E ratio of 8.97, a P/E/G 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. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50.

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.