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

Strengthening Families & Communities LLC grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 36,764.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,161 shares of the oil and natural gas company’s stock after buying an additional 5,147 shares during the period. Strengthening Families & Communities LLC’s holdings in Diamondback Energy were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Uhlmann Price Securities LLC increased its holdings in Diamondback Energy by 1.3% in the 2nd quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock valued at $699,000 after acquiring an additional 67 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Diamondback Energy by 3.0% during the third quarter. Valeo Financial Advisors LLC now owns 2,568 shares of the oil and natural gas company’s stock valued at $367,000 after purchasing an additional 74 shares in the last quarter. Viawealth LLC increased its holdings in shares of Diamondback Energy by 5.0% in the second quarter. Viawealth LLC now owns 1,753 shares of the oil and natural gas company’s stock worth $241,000 after purchasing an additional 83 shares during the last quarter. STF Management LP increased its holdings in shares of Diamondback Energy by 1.9% in the second quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock worth $617,000 after purchasing an additional 84 shares during the last quarter. Finally, Lodestone Wealth Management LLC lifted its position in shares of Diamondback Energy by 1.2% in the third quarter. Lodestone Wealth Management LLC now owns 7,219 shares of the oil and natural gas company’s stock worth $1,033,000 after buying an additional 84 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $158.64 on Tuesday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $168.48. 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 firm has a 50-day moving average price of $152.37 and a 200-day moving average price of $146.52. The firm has a market capitalization of $45.43 billion, a PE ratio of 11.02 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.94 by $0.14. The company 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 firm’s revenue was up 48.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 EPS. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Insider Activity at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value of $52,382,243.71. Following the sale, the director directly owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on FANG shares. Barclays cut their price target on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Roth Mkm set a $162.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 4th. Piper Sandler boosted their price target on shares of Diamondback Energy from $215.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, Susquehanna dropped their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $185.90.

About Diamondback Energy

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.