Diamondback Energy, Inc. $FANG Stake Decreased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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.

Several other large investors have also recently added to or reduced their stakes in FANG. Auxano Advisors LLC raised its stake in Diamondback Energy by 11.8% during the 3rd quarter. Auxano Advisors LLC now owns 3,798 shares of the oil and natural gas company’s stock valued at $543,000 after acquiring an additional 400 shares in the last quarter. Unison Advisors LLC increased its holdings in shares of Diamondback Energy by 0.7% during the third quarter. Unison Advisors LLC now owns 15,939 shares of the oil and natural gas company’s stock valued at $2,281,000 after purchasing an additional 114 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in shares of Diamondback Energy by 8.9% during the third quarter. Ashton Thomas Private Wealth LLC now owns 4,231 shares of the oil and natural gas company’s stock valued at $605,000 after purchasing an additional 347 shares in the last quarter. Strengthening Families & Communities LLC lifted its holdings in Diamondback Energy by 36,764.3% in the third quarter. Strengthening Families & Communities LLC now owns 5,161 shares of the oil and natural gas company’s stock worth $739,000 after purchasing an additional 5,147 shares during the period. Finally, Lord & Richards Wealth Management LLC grew its position in Diamondback Energy by 12.7% in the 3rd quarter. Lord & Richards Wealth Management LLC now owns 11,112 shares of the oil and natural gas company’s stock valued at $1,590,000 after buying an additional 1,255 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 60,605 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the sale, the director owned 982,006 shares in the company, valued at approximately $158,220,806.72. The trade was a 5.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was 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 of the company’s stock, valued at approximately $16,074,094,093.76. The trade was a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,438,516 shares of company stock valued at $225,026,921. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $166.93 on Friday. The company has a market capitalization of $47.81 billion, a PE ratio of 11.60 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a fifty day moving average of $153.68 and a 200-day moving average of $147.14. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $169.49.

Analysts Set New Price Targets

FANG has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Roth Mkm set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 4th. Scotiabank set a $175.00 price target on Diamondback Energy in a research note on Friday, January 16th. Morgan Stanley lowered their price target on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 price objective on shares of Diamondback Energy in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.90.

Diamondback Energy Company 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.