Strengthening Families & Communities LLC Acquires 5,147 Shares of Diamondback Energy, Inc. $FANG

Strengthening Families & Communities LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 36,764.3% during the third quarter, HoldingsChannel reports. The firm owned 5,161 shares of the oil and natural gas company’s stock after purchasing an additional 5,147 shares during the period. Strengthening Families & Communities LLC’s holdings in Diamondback Energy were worth $739,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FANG. Vanguard Group Inc. grew its stake in Diamondback Energy by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock worth $3,204,894,000 after acquiring an additional 388,512 shares in the last quarter. Boston Partners grew its stake in Diamondback Energy by 2.8% in the second quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock worth $766,914,000 after purchasing an additional 151,150 shares in the last quarter. Geode Capital Management LLC grew its stake in Diamondback Energy by 2.7% in the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock worth $746,526,000 after purchasing an additional 142,649 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 9.0% in the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after purchasing an additional 384,971 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in Diamondback Energy by 9.2% during the 2nd quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock worth $268,243,000 after purchasing an additional 164,293 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FANG has been the subject of several research reports. Wall Street Zen cut Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. UBS Group increased their target price on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Finally, Citigroup dropped their price objective on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.90.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $158.64 on Tuesday. The company has a market capitalization of $45.43 billion, a PE ratio of 11.02 and a beta of 0.63. The company has a 50-day simple moving average of $152.37 and a two-hundred day simple moving average of $146.52. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $168.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The company’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 EPS. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

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.