Rhumbline Advisers Acquires 15,401 Shares of Diamondback Energy, Inc. $FANG

Rhumbline Advisers lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 369,008 shares of the oil and natural gas company’s stock after purchasing an additional 15,401 shares during the quarter. Rhumbline Advisers owned 0.13% of Diamondback Energy worth $52,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its holdings in Diamondback Energy by 48.0% in the 2nd quarter. CWM LLC now owns 12,170 shares of the oil and natural gas company’s stock valued at $1,672,000 after acquiring an additional 3,945 shares in the last quarter. MGO One Seven LLC raised its stake in Diamondback Energy by 111.4% in the second quarter. MGO One Seven LLC now owns 3,325 shares of the oil and natural gas company’s stock valued at $457,000 after purchasing an additional 1,752 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Diamondback Energy by 9.9% during the second quarter. Sequoia Financial Advisors LLC now owns 6,520 shares of the oil and natural gas company’s stock worth $896,000 after purchasing an additional 587 shares during the period. Praxis Investment Management Inc. grew its stake in Diamondback Energy by 39.0% during the second quarter. Praxis Investment Management Inc. now owns 7,020 shares of the oil and natural gas company’s stock worth $965,000 after buying an additional 1,970 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in Diamondback Energy by 13.5% in the 2nd quarter. Private Trust Co. NA now owns 1,796 shares of the oil and natural gas company’s stock valued at $247,000 after buying an additional 214 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FANG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a report on Monday, December 29th. Roth Mkm set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Wells Fargo & Company lifted their price target on Diamondback Energy from $169.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, Morgan Stanley reduced their price objective on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $185.90.

Diamondback Energy Trading Up 1.0%

NASDAQ FANG opened at $169.14 on Friday. The company has a market cap of $48.44 billion, a price-to-earnings ratio of 11.75 and a beta of 0.63. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $170.54. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $154.63 and its 200 day moving average is $147.91.

Insider Activity at Diamondback Energy

In related news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the firm’s 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 completion of the transaction, the insider owned 98,686,727 shares in the company, valued at $16,074,094,093.76. This trade represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the sale, the director owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,438,516 shares of company stock valued at $225,026,921 in the last ninety days. 0.70% of the stock is currently owned by 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.