Parcion Private Wealth LLC Sells 132 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Parcion Private Wealth LLC decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,245 shares of the oil and natural gas company’s stock after selling 132 shares during the period. Parcion Private Wealth LLC’s holdings in Diamondback Energy were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC increased its position in Diamondback Energy by 36.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 7,282 shares of the oil and natural gas company’s stock valued at $1,193,000 after acquiring an additional 1,962 shares during the last quarter. Bryn Mawr Capital Management LLC grew its holdings in shares of Diamondback Energy by 36.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 2,712 shares of the oil and natural gas company’s stock worth $444,000 after purchasing an additional 721 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Diamondback Energy by 15.0% in the fourth quarter. Private Advisor Group LLC now owns 21,974 shares of the oil and natural gas company’s stock worth $3,600,000 after purchasing an additional 2,859 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Diamondback Energy by 63.3% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 3,802 shares of the oil and natural gas company’s stock worth $623,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Key Financial Inc grew its holdings in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 2.2 %

Shares of Diamondback Energy stock opened at $160.26 on Thursday. 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 firm has a fifty day moving average price of $165.82 and a 200 day moving average price of $177.18. Diamondback Energy, Inc. has a 1 year low of $152.00 and a 1 year high of $214.50. The stock has a market cap of $46.79 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 1.22 and a beta of 1.86.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FANG. Piper Sandler cut their price target 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. Truist Financial upped their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Raymond James raised their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.52.

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.