Cigna Investments Inc. New trimmed its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 12.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,211 shares of the oil and natural gas company’s stock after selling 608 shares during the period. Cigna Investments Inc. New’s holdings in Diamondback Energy were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Diamondback Energy by 4.7% in the 2nd quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after acquiring an additional 485,647 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Diamondback Energy by 10.3% during the third quarter. Pacer Advisors Inc. now owns 16,173 shares of the oil and natural gas company’s stock worth $1,454,000 after purchasing an additional 1,505 shares during the last quarter. Three Peaks Capital Management LLC acquired a new position in Diamondback Energy in the third quarter valued at approximately $1,506,000. DNB Asset Management AS raised its stake in Diamondback Energy by 24.5% during the 3rd quarter. DNB Asset Management AS now owns 312,823 shares of the oil and natural gas company’s stock worth $28,126,000 after acquiring an additional 61,510 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Diamondback Energy by 63.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,212 shares of the oil and natural gas company’s stock valued at $1,277,000 after acquiring an additional 5,493 shares during the last quarter. 98.41% of the stock is owned by institutional investors.
A number of analysts recently issued reports on FANG shares. Imperial Capital reissued an “outperform” rating and issued a $110.00 target price (up from $88.00) on shares of Diamondback Energy in a research report on Tuesday, January 14th. Siebert Williams Shank reiterated a “buy” rating and issued a $130.00 price objective on shares of Diamondback Energy in a research note on Wednesday, January 8th. Oppenheimer cut Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $138.00 price objective for the company. in a research note on Thursday, November 7th. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Monday, January 27th. Finally, Barclays lowered their target price on shares of Diamondback Energy from $189.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $131.05.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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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