Diamondback Energy (NASDAQ:FANG) Major Shareholder Fang Holdings Lp Sgf Sells 1,000,000 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $162.88, for a total value of $162,880,000.00. Following the transaction, the insider owned 98,686,727 shares in the company, valued at $16,074,094,093.76. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Fang Holdings Lp Sgf also recently made the following trade(s):

• On Friday, November 28th, Fang Holdings Lp Sgf sold 2,000,000 shares of Diamondback Energy stock. The stock was sold at an average price of $152.59, for a total value of $305,180,000.00.

Diamondback Energy Stock Down 2.5%

Diamondback Energy stock opened at $164.78 on Friday. The stock’s 50 day moving average price is $153.39 and its 200 day moving average price is $146.95. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $169.49. The company has a market cap of $47.19 billion, a PE ratio of 11.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.Diamondback Energy’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.19 earnings per share. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FANG. Scotiabank set a $175.00 target price on shares of Diamondback Energy in a research report on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. UBS Group raised their price objective on Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Roth Mkm set a $162.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Susquehanna decreased their target price on Diamondback Energy to $188.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.90.

Institutional Trading of Diamondback Energy

Several institutional investors and hedge funds have recently made changes to their positions in FANG. Flagship Harbor Advisors LLC acquired a new position in Diamondback Energy in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. raised its position in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the third quarter worth approximately $26,000. Finally, Creekmur Asset Management LLC acquired a new stake in Diamondback Energy during the second quarter worth approximately $28,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.