Diamondback Energy, Inc. (NASDAQ:FANG) Position Raised by TCW Group Inc.

TCW Group Inc. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 92.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,362 shares of the oil and natural gas company’s stock after acquiring an additional 33,752 shares during the quarter. TCW Group Inc.’s holdings in Diamondback Energy were worth $11,527,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Swedbank AB increased its position in Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after acquiring an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after purchasing an additional 37,246 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares during the period. Tectonic Advisors LLC raised its stake in shares of Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after purchasing an additional 8,704 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after purchasing an additional 7,694 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $156.12 on Monday. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 1-year low of $152.00 and a 1-year 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’s fifty day simple moving average is $165.60 and its 200-day simple moving average is $176.57.

Wall Street Analysts Forecast Growth

Several research firms have commented on FANG. The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. Wells Fargo & Company boosted their target price on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Truist Financial upped their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Mizuho lowered their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. upped their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.22.

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.