Ellis Investment Partners LLC Has $2.19 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Ellis Investment Partners LLC decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,391 shares of the oil and natural gas company’s stock after selling 102 shares during the period. Ellis Investment Partners LLC’s holdings in Diamondback Energy were worth $2,194,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Diamondback Energy during the 4th quarter worth $29,000. UMB Bank n.a. increased its position in 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 worth $31,000 after buying an additional 136 shares during the period. Values First Advisors Inc. bought a new position in Diamondback Energy during the 3rd quarter worth $42,000. Ashton Thomas Securities LLC bought a new position in Diamondback Energy during the 3rd quarter worth $52,000. Finally, Synergy Asset Management LLC bought a new position in Diamondback Energy during the 4th quarter worth $67,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $156.99 on Friday. The business’s 50-day moving average price is $166.15 and its 200-day moving average price is $178.01. 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 price-to-earnings ratio of 8.99, a PEG ratio of 1.24 and a beta of 1.86. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler lowered their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. raised their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Raymond James raised their price target on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.17.

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.