Summit Trail Advisors LLC Buys 573 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Summit Trail Advisors LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 35.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,210 shares of the oil and natural gas company’s stock after buying an additional 573 shares during the quarter. Summit Trail Advisors LLC’s holdings in Diamondback Energy were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FANG. State Street Corp increased its position in 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Diamondback Energy by 9.3% during 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 acquiring an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in 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 acquiring an additional 439,579 shares during the period. Finally, Raymond James & Associates lifted its holdings in Diamondback Energy by 4.2% during the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock valued at $195,714,000 after purchasing an additional 46,109 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $155.46 on Thursday. Diamondback Energy, Inc. has a 1 year low of $152.00 and a 1 year high of $214.50. The stock has a market capitalization of $45.39 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth 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 company’s 50 day simple moving average is $166.98 and its 200 day simple moving average is $178.62.

Wall Street Analysts Forecast Growth

Several research firms have commented on FANG. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Raymond James increased their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report 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 report on Friday, January 3rd. Benchmark reaffirmed a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $215.00.

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.