Krilogy Financial LLC Takes Position in Diamondback Energy, Inc. $FANG

Krilogy Financial LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,881 shares of the oil and natural gas company’s stock, valued at approximately $945,000.

Other institutional investors also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Diamondback Energy by 233.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 12,673 shares of the oil and natural gas company’s stock valued at $1,814,000 after buying an additional 8,877 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Diamondback Energy by 9.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,733 shares of the oil and natural gas company’s stock valued at $16,848,000 after acquiring an additional 10,289 shares during the last quarter. NorthRock Partners LLC boosted its stake in Diamondback Energy by 181.6% in the second quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company’s stock valued at $488,000 after acquiring an additional 2,290 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new stake in Diamondback Energy in the third quarter valued at approximately $472,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Diamondback Energy by 9.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,385,428 shares of the oil and natural gas company’s stock worth $198,255,000 after purchasing an additional 122,921 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FANG. Piper Sandler increased their price objective on Diamondback Energy from $215.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. UBS Group increased their price target on Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Sanford C. Bernstein decreased their price objective on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, Susquehanna lowered their target price on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $185.90.

Diamondback Energy Stock Down 0.9%

FANG stock opened at $167.42 on Friday. The company has a market capitalization of $47.95 billion, a P/E ratio of 11.63 and a beta of 0.63. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $170.54. The firm’s fifty day simple moving average is $154.42 and its 200-day simple moving average is $147.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60.

Insider Activity

In other news, Director Charles Alvin Meloy sold 377,911 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value of $52,382,243.71. Following the sale, the director owned 1,044,864 shares in the company, valued at $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total value of $162,880,000.00. Following the transaction, the insider owned 98,686,727 shares of the company’s stock, valued at approximately $16,074,094,093.76. This represents a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,438,516 shares of company stock valued at $225,026,921. Insiders own 0.70% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.