Parcion Private Wealth LLC Lowers Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Parcion Private Wealth LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,245 shares of the oil and natural gas company’s stock after selling 132 shares during the period. Parcion Private Wealth LLC’s holdings in Diamondback Energy were worth $368,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FANG. Financial Advocates Investment Management increased its stake 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 valued at $329,000 after purchasing an additional 55 shares in the last quarter. Lakewood Asset Management LLC increased its stake 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 valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. West Family Investments Inc. increased its stake 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 valued at $319,000 after purchasing an additional 61 shares in the last quarter. Magnolia Capital Advisors LLC increased its stake 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 valued at $532,000 after purchasing an additional 64 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its stake 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 valued at $482,000 after purchasing an additional 65 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FANG. Truist Financial raised their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday. 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 note on Monday, December 16th. Piper Sandler reduced their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Morgan Stanley lifted their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.52.

View Our Latest Analysis on Diamondback Energy

Diamondback Energy Trading Up 2.2 %

Shares of FANG opened at $160.26 on Thursday. The company’s fifty day moving average is $165.82 and its 200 day moving average is $177.18. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The stock has a market capitalization of $46.79 billion, a PE ratio of 9.17, 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.

About Diamondback Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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