Summit Trail Advisors LLC Purchases 573 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Summit Trail Advisors LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 35.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,210 shares of the oil and natural gas company’s stock after acquiring an additional 573 shares during the quarter. Summit Trail Advisors LLC’s holdings in Diamondback Energy were worth $362,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after purchasing an additional 1,042,505 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of Diamondback Energy during the third quarter worth approximately $87,924,000. Holocene Advisors LP lifted its holdings in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after buying an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after buying an additional 439,579 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in Diamondback Energy by 17,151.2% in the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after acquiring an additional 338,050 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $155.46 on Thursday. The company has a market capitalization of $45.39 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.24 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 $166.98 and its 200-day moving average is $178.62. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho cut 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. Susquehanna reduced their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. Finally, UBS Group lowered their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Four equities research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Company 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.