Navellier & Associates Inc. Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Navellier & Associates Inc. lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,718 shares of the oil and natural gas company’s stock after purchasing an additional 358 shares during the period. Navellier & Associates Inc.’s holdings in Diamondback Energy were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FANG. State Street Corp boosted its position in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after acquiring an additional 149,871 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Diamondback Energy by 9.3% during the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after acquiring an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, Yacktman Asset Management LP boosted its position in shares of Diamondback Energy by 9.3% during the fourth quarter. Yacktman Asset Management LP now owns 1,388,434 shares of the oil and natural gas company’s stock worth $227,467,000 after acquiring an additional 118,603 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FANG. Wells Fargo & Company upped their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Morgan Stanley upped their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $216.52.

Diamondback Energy Trading Down 3.7 %

FANG stock opened at $156.12 on Friday. The company has a market capitalization of $45.59 billion, a PE ratio of 8.94, a P/E/G ratio of 1.22 and a beta of 1.86. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50. The firm’s 50-day moving average is $165.74 and its 200 day moving average is $176.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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.