Hartford Investment Management Co. Trims Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Hartford Investment Management Co. cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,567 shares of the oil and natural gas company’s stock after selling 223 shares during the quarter. Hartford Investment Management Co.’s holdings in Diamondback Energy were worth $1,895,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. State Street Corp grew 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 buying an additional 149,871 shares in the last quarter. Geode Capital Management LLC grew its holdings in Diamondback Energy by 6.1% during the 3rd 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 in the last quarter. Pacer Advisors Inc. increased its position in shares of Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Diamondback Energy by 25.6% in the 3rd 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 purchasing an additional 439,579 shares in the last quarter. Finally, Yacktman Asset Management LP raised its stake in shares of Diamondback Energy by 9.3% in the 4th quarter. Yacktman Asset Management LP now owns 1,388,434 shares of the oil and natural gas company’s stock valued at $227,467,000 after purchasing an additional 118,603 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FANG shares. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. The Goldman Sachs Group began coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Piper Sandler dropped their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.17.

Diamondback Energy Trading Up 0.5 %

NASDAQ:FANG opened at $156.17 on Friday. Diamondback Energy, Inc. has a 1 year low of $152.00 and a 1 year high of $214.50. The business has a fifty day moving average of $166.67 and a 200-day moving average of $178.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market cap of $45.60 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy 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.