Diamondback Energy, Inc. $FANG Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 21.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,520 shares of the oil and natural gas company’s stock after selling 10,681 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Diamondback Energy were worth $5,655,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Diamondback Energy by 106.3% in the third 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 buying an additional 102 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Diamondback Energy in the second quarter valued at $29,000. Salomon & Ludwin LLC bought a new position in Diamondback Energy during the 3rd quarter valued at $31,000. Finally, Estabrook Capital Management acquired a new position in Diamondback Energy during the 2nd quarter worth $41,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the completion of the transaction, the insider owned 98,686,727 shares in the company, valued at approximately $16,074,094,093.76. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This trade represents a 26.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, 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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FANG shares. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Piper Sandler upped their price objective on Diamondback Energy from $215.00 to $218.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Roth Mkm set a $162.00 price target on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Sanford C. Bernstein reduced their price objective on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.90.

Diamondback Energy Stock Up 1.3%

Shares of Diamondback Energy stock opened at $166.93 on Friday. The stock has a market capitalization of $47.81 billion, a price-to-earnings ratio of 11.60 and a beta of 0.63. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $169.49. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $153.68 and its 200-day simple moving average is $147.14.

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.