1,058 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,058 shares of the oil and natural gas company’s stock, valued at approximately $210,000.

Several other hedge funds have also recently added to or reduced their stakes in FANG. Founders Capital Management raised its position in Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the period. Logan Capital Management Inc. purchased a new position in shares of Diamondback Energy in the fourth quarter worth about $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $34,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Diamondback Energy during the 1st quarter valued at about $49,000. Finally, First Horizon Advisors Inc. grew its position in Diamondback Energy by 37.3% during the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at $13,736,123.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FANG. Wolfe Research assumed coverage on Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Benchmark reissued a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research report on Thursday, June 20th. Royal Bank of Canada boosted their price objective on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Mizuho increased their target price on shares of Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Bank of America boosted their price target on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.65.

Diamondback Energy Stock Down 4.6 %

Shares of FANG traded down $9.16 during mid-day trading on Friday, reaching $189.06. The company had a trading volume of 1,999,255 shares, compared to its average volume of 1,129,321. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. The company has a market capitalization of $33.72 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.06 and a beta of 1.90. The firm has a 50-day moving average price of $198.25 and a 200 day moving average price of $189.93.

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.