Diamondback Energy, Inc. $FANG Holdings Cut by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,946,679 shares of the oil and natural gas company’s stock after selling 336,107 shares during the quarter. Diamondback Energy makes up 0.6% of Pacer Advisors Inc.’s portfolio, making the stock its 23rd largest holding. Pacer Advisors Inc. owned about 0.69% of Diamondback Energy worth $385,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Pine Valley Investments Ltd Liability Co increased its position in Diamondback Energy by 500.9% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 12,985 shares of the oil and natural gas company’s stock worth $2,568,000 after buying an additional 10,824 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Diamondback Energy by 10.6% during the first quarter. Parallel Advisors LLC now owns 15,945 shares of the oil and natural gas company’s stock valued at $3,154,000 after acquiring an additional 1,534 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Diamondback Energy by 1.4% during the first quarter. Glenmede Trust Co. NA now owns 6,944 shares of the oil and natural gas company’s stock valued at $1,373,000 after acquiring an additional 94 shares during the period. Summit Financial Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the first quarter worth about $370,000. Finally, BankChampaign National Association acquired a new stake in shares of Diamondback Energy in the 1st quarter worth about $413,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of several recent analyst reports. Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Sanford C. Bernstein upped their price objective on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Citigroup lowered their target price on shares of Diamondback Energy from $245.00 to $221.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. UBS Group dropped their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, Morgan Stanley reduced their price target on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $218.63.

Diamondback Energy Price Performance

FANG opened at $202.95 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The company has a market capitalization of $57.09 billion, a PE ratio of 235.99 and a beta of 0.43. The stock’s fifty day moving average is $190.79 and its 200-day moving average is $184.65. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $4.54 earnings per share. On average, equities analysts predict that Diamondback Energy, Inc. will post 18.9 EPS for the current fiscal year.

Insider Buying and Selling at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 83,334 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares in the company, valued at approximately $159,338,293.60. This trade represents a 8.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director owned 13,437 shares in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,691 shares of company stock valued at $21,622,752 over the last 90 days. Insiders own 0.64% of the company’s stock.

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.