Peterson Wealth Services Sells 19,517 Shares of Diamondback Energy, Inc. $FANG

Peterson Wealth Services cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 69.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,744 shares of the oil and natural gas company’s stock after selling 19,517 shares during the period. Peterson Wealth Services’ holdings in Diamondback Energy were worth $1,251,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FANG. Robeco Institutional Asset Management B.V. grew its stake in Diamondback Energy by 12.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 40,517 shares of the oil and natural gas company’s stock worth $5,567,000 after buying an additional 4,340 shares in the last quarter. 111 Capital bought a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $554,000. Woodmont Investment Counsel LLC boosted its position in shares of Diamondback Energy by 1,123.0% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 43,515 shares of the oil and natural gas company’s stock worth $5,979,000 after acquiring an additional 39,957 shares in the last quarter. Vantage Investment Partners LLC boosted its position in shares of Diamondback Energy by 4.4% during the 2nd quarter. Vantage Investment Partners LLC now owns 83,184 shares of the oil and natural gas company’s stock worth $11,429,000 after acquiring an additional 3,476 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in Diamondback Energy by 7.9% in the second quarter. Valeo Financial Advisors LLC now owns 2,494 shares of the oil and natural gas company’s stock valued at $343,000 after acquiring an additional 183 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on FANG. Piper Sandler upped their target price on Diamondback Energy from $215.00 to $218.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Morgan Stanley dropped their price objective on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Wells Fargo & Company boosted their target price on Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Finally, UBS Group raised 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.90.

Diamondback Energy Trading Down 3.2%

FANG opened at $158.64 on Tuesday. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $168.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $45.43 billion, a price-to-earnings ratio of 11.02 and a beta of 0.63. The company’s 50 day moving average price is $152.37 and its two-hundred day moving average price is $146.52.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The company’s revenue for the quarter was up 48.4% on a year-over-year basis. As a group, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share 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 dated 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 completion of the sale, the director owned 1,044,864 shares of the company’s stock, 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 is accessible through the SEC website. Company insiders own 0.48% 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.