Stephens Inc. AR Reduces Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Stephens Inc. AR decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 67.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,945 shares of the oil and natural gas company’s stock after selling 10,102 shares during the quarter. Stephens Inc. AR’s holdings in Diamondback Energy were worth $852,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Quent Capital LLC lifted its position in shares of Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after buying an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management lifted its position in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its stake in Diamondback Energy by 0.3% in the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after acquiring an additional 56 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Diamondback Energy by 16.1% during the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 57 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FANG shares. Sanford C. Bernstein dropped their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Citigroup initiated coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Truist Financial raised their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler upped their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Diamondback Energy Trading Down 2.3 %

Shares of FANG opened at $175.63 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $51.77 billion, a P/E ratio of 9.08, a PEG ratio of 1.23 and a beta of 1.89. The firm’s 50-day moving average is $182.56 and its two-hundred day moving average is $192.61.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.49 EPS. On average, research analysts predict that Diamondback Energy, Inc. will post 17.1 earnings per share for the current fiscal year.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.