Diamondback Energy Inc (NASDAQ:FANG) traded down 6.1% on Thursday after BidaskClub downgraded the stock from a buy rating to a hold rating. The stock traded as low as $111.22 and last traded at $111.33. 2,794,279 shares traded hands during trading, an increase of 115% from the average session volume of 1,301,988 shares. The stock had previously closed at $118.50.

A number of other research firms have also recently commented on FANG. Credit Suisse Group set a $143.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Morgan Stanley increased their target price on shares of Diamondback Energy from $138.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $138.00 target price on shares of Diamondback Energy in a report on Tuesday, January 9th. Stifel Nicolaus set a $149.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Mizuho set a $148.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $135.11.

In other Diamondback Energy news, VP Russell Pantermuehl sold 1,400 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $111.10, for a total transaction of $155,540.00. Following the completion of the sale, the vice president now owns 60,814 shares of the company’s stock, valued at approximately $6,756,435.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael L. Hollis sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total transaction of $388,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 68,400 shares of company stock valued at $8,337,200 in the last three months. Insiders own 0.41% of the company’s stock.

Several hedge funds have recently made changes to their positions in FANG. Boston Partners grew its position in shares of Diamondback Energy by 18.1% during the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after buying an additional 1,208,864 shares during the period. Eagle Asset Management Inc. grew its position in shares of Diamondback Energy by 33.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,263,001 shares of the oil and natural gas company’s stock worth $126,300,000 after buying an additional 318,035 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Diamondback Energy by 15.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,141,967 shares of the oil and natural gas company’s stock worth $209,827,000 after buying an additional 294,048 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $28,064,000. Finally, Ameriprise Financial Inc. grew its position in shares of Diamondback Energy by 59.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 580,057 shares of the oil and natural gas company’s stock worth $56,838,000 after buying an additional 216,867 shares during the period.

The firm has a market cap of $10,840.00, a PE ratio of 26.76, a P/E/G ratio of 0.61 and a beta of 0.91. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22.

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Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.

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