Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Manchester Capital Management LLC

Manchester Capital Management LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 49.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 728 shares of the oil and natural gas company’s stock after selling 710 shares during the quarter. Manchester Capital Management LLC’s holdings in Diamondback Energy were worth $119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $29,000. UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $52,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $67,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FANG. UBS Group raised their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday. Mizuho dropped their target price on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating 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, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $215.17.

Diamondback Energy Trading Up 0.5 %

NASDAQ:FANG opened at $156.99 on Friday. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month high of $214.50. The firm has a market capitalization of $45.84 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a 50 day simple moving average of $166.15 and a 200 day simple moving average of $178.01.

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.