Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by ING Groep NV

ING Groep NV grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 71.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,001 shares of the oil and natural gas company’s stock after acquiring an additional 12,890 shares during the quarter. ING Groep NV’s holdings in Diamondback Energy were worth $5,079,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FANG. Concurrent Investment Advisors LLC raised its stake in shares of 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 worth $1,193,000 after purchasing an additional 1,962 shares during the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of Diamondback Energy by 36.2% during 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 raised its stake in shares of Diamondback Energy by 15.0% during 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 raised its stake in shares of Diamondback Energy by 63.3% during 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 raised its stake in shares of Diamondback Energy by 940.0% during 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. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 3.7 %

Shares of NASDAQ:FANG opened at $156.12 on Friday. The stock’s 50-day moving average price is $165.74 and its two-hundred day moving average price is $176.96. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month high of $214.50. The firm has a market cap of $45.59 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.22 and a beta of 1.86.

Wall Street Analyst Weigh In

FANG has been the subject of several analyst reports. Raymond James upped their price target on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Mizuho cut their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. raised their price target on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.52.

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.