Blue Trust Inc. Sells 996 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Blue Trust Inc. lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 32.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,072 shares of the oil and natural gas company’s stock after selling 996 shares during the period. Blue Trust Inc.’s holdings in Diamondback Energy were worth $339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Financial Advocates Investment Management boosted its position in shares of 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 boosted its position in shares of 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. boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $156.76 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $45.77 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.24 and a beta of 1.86. The stock has a 50 day moving average of $165.94 and a 200 day moving average of $177.41. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FANG shares. Wells Fargo & Company upped their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Mizuho dropped their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Piper Sandler dropped their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. UBS Group upped their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Four 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.17.

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.