GAMMA Investing LLC Has $568,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

GAMMA Investing LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 61.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,835 shares of the oil and natural gas company’s stock after purchasing an additional 1,076 shares during the period. GAMMA Investing LLC’s holdings in Diamondback Energy were worth $568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of FANG. Private Trust Co. NA raised its holdings in Diamondback Energy by 63.9% during the fourth quarter. Private Trust Co. NA now owns 567 shares of the oil and natural gas company’s stock worth $88,000 after acquiring an additional 221 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Diamondback Energy by 5.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 72,064 shares of the oil and natural gas company’s stock valued at $11,194,000 after buying an additional 3,519 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Diamondback Energy by 16,215.2% in the fourth quarter. International Assets Investment Management LLC now owns 266,264 shares of the oil and natural gas company’s stock valued at $41,292,000 after buying an additional 264,632 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Diamondback Energy by 2.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 27,663 shares of the oil and natural gas company’s stock worth $4,290,000 after buying an additional 665 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Diamondback Energy by 2.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 40,840 shares of the oil and natural gas company’s stock worth $6,307,000 after acquiring an additional 879 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FANG has been the topic of several recent analyst reports. Truist Financial boosted their price objective on shares of Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Sanford C. Bernstein reduced their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Susquehanna boosted their target price on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Morgan Stanley cut their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Finally, Barclays started coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.65.

Diamondback Energy Price Performance

FANG stock traded down $9.16 during midday 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 1-year low of $143.08 and a 1-year high of $214.50. The stock has a 50 day moving average price of $198.25 and a 200-day moving average price of $190.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. 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.

Insider Activity at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the business’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 owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by insiders.

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.