Smead Capital Management Inc. Acquires 258,738 Shares of Diamondback Energy, Inc. $FANG

Smead Capital Management Inc. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 24.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,312,413 shares of the oil and natural gas company’s stock after purchasing an additional 258,738 shares during the quarter. Diamondback Energy makes up about 3.6% of Smead Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. Smead Capital Management Inc. owned approximately 0.46% of Diamondback Energy worth $187,806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. 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 valued at $28,000 after buying an additional 102 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in Diamondback Energy during the 2nd quarter worth about $28,000. Salomon & Ludwin LLC bought a new stake in Diamondback Energy during the 3rd quarter worth about $31,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Diamondback Energy in the 2nd quarter valued at about $29,000. Finally, Estabrook Capital Management bought a new position in shares of Diamondback Energy in the second quarter worth about $41,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on FANG shares. UBS Group increased their price target on shares of Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Scotiabank set a $175.00 price objective on Diamondback Energy in a research report on Friday, January 16th. Citigroup lowered their target price on Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Mizuho dropped their target price on Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Finally, Sanford C. Bernstein decreased their price target on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Buy” and a consensus price target of $185.90.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total value of $162,880,000.00. Following the sale, the insider directly owned 98,686,727 shares in the company, valued at approximately $16,074,094,093.76. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles Alvin Meloy sold 60,605 shares of Diamondback Energy stock in a transaction on 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 transaction, the director directly owned 982,006 shares in the company, valued at approximately $158,220,806.72. This represents a 5.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,438,516 shares of company stock worth $225,026,921 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Up 0.7%

NASDAQ FANG opened at $176.01 on Friday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $177.02. The stock has a 50-day simple moving average of $156.09 and a 200 day simple moving average of $148.72. 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 company has a market capitalization of $50.41 billion, a PE ratio of 12.23 and a beta of 0.63.

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.