Pacer Advisors Inc. Has $385.03 Million Holdings in Diamondback Energy, Inc. $FANG

Pacer Advisors Inc. trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,946,679 shares of the oil and natural gas company’s stock after selling 336,107 shares during the quarter. Diamondback Energy makes up approximately 0.6% of Pacer Advisors Inc.’s portfolio, making the stock its 23rd largest position. Pacer Advisors Inc.’s holdings in Diamondback Energy were worth $385,034,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators boosted its stake in Diamondback Energy by 31.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after purchasing an additional 66 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after purchasing an additional 68 shares in the last quarter. Townsend & Associates Inc boosted its position in shares of Diamondback Energy by 0.5% in the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after buying an additional 75 shares during the period. Capital Financial Group Inc. Co. ADV boosted its position in shares of Diamondback Energy by 2.1% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock worth $709,000 after buying an additional 75 shares during the period. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Diamondback Energy by 40.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock valued at $45,000 after buying an additional 86 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent analyst reports. Barclays upped their price target on Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Zacks Research lowered shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wells Fargo & Company set a $212.00 price target on shares of Diamondback Energy in a report on Monday, June 22nd. Weiss Ratings upgraded Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Finally, Susquehanna lifted their price objective on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Buy” and a consensus target price of $218.63.

Diamondback Energy Price Performance

Shares of FANG opened at $202.95 on Monday. The firm has a market cap of $57.09 billion, a PE ratio of 235.99 and a beta of 0.43. The firm’s 50 day moving average price is $190.79 and its 200 day moving average price is $184.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period last year, the business earned $4.54 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Diamondback Energy, Inc. will post 18.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 113,691 shares of company stock worth $21,622,752 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Diamondback Energy 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.