Legacy Capital Wealth Partners LLC Trims Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Legacy Capital Wealth Partners LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 52.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,006 shares of the oil and natural gas company’s stock after selling 3,367 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Diamondback Energy were worth $492,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Diamondback Energy during the fourth quarter worth about $29,000. UMB Bank n.a. raised its stake in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Values First Advisors Inc. purchased a new position in Diamondback Energy during the third quarter worth about $42,000. Ashton Thomas Securities LLC purchased a new position in Diamondback Energy during the third quarter worth about $52,000. Finally, Synergy Asset Management LLC purchased a new position in Diamondback Energy during the fourth quarter worth about $67,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 0.5 %

Shares of Diamondback Energy stock opened at $156.99 on Monday. The company has a fifty day simple moving average of $166.15 and a 200-day simple moving average of $177.87. Diamondback Energy, Inc. has a 12-month low of $152.00 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $45.84 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.24 and a beta of 1.86.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Raymond James boosted their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $215.17.

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.