Prospera Financial Services Inc Purchases 5,187 Shares of Diamondback Energy, Inc. $FANG

Prospera Financial Services Inc increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 100.8% in the third quarter, Holdings Channel.com reports. The firm owned 10,334 shares of the oil and natural gas company’s stock after acquiring an additional 5,187 shares during the period. Prospera Financial Services Inc’s holdings in Diamondback Energy were worth $1,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Creekmur Asset Management LLC acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Diamondback Energy by 106.3% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 102 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth $29,000. Salomon & Ludwin LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at $31,000. Finally, Estabrook Capital Management acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $41,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FANG. Sanford C. Bernstein decreased their price objective on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. TD Cowen upgraded Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Susquehanna decreased their target price on Diamondback Energy to $188.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Citigroup lowered their price target on Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $173.00 price objective on shares of Diamondback Energy in a research note on Monday, January 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $185.90.

Diamondback Energy Trading Up 1.0%

NASDAQ FANG opened at $169.14 on Friday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $170.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market cap of $48.44 billion, a P/E ratio of 11.75 and a beta of 0.63. The stock’s 50-day moving average is $154.63 and its 200-day moving average is $147.91.

Insider Buying and Selling

In other news, Director Charles Alvin Meloy sold 60,605 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the completion of the sale, the director owned 982,006 shares of the company’s stock, valued at $158,220,806.72. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the sale, the insider owned 98,686,727 shares in the company, valued at approximately $16,074,094,093.76. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,438,516 shares of company stock valued at $225,026,921. 0.70% of the stock is owned by company insiders.

About Diamondback Energy

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.