Strategic Investment Advisors MI Acquires 4,336 Shares of Diamondback Energy, Inc. $FANG

Strategic Investment Advisors MI boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 69.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,624 shares of the oil and natural gas company’s stock after purchasing an additional 4,336 shares during the period. Strategic Investment Advisors MI’s holdings in Diamondback Energy were worth $2,101,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its holdings in Diamondback Energy by 4.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,441,622 shares of the oil and natural gas company’s stock valued at $216,719,000 after acquiring an additional 56,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Diamondback Energy by 18.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,308 shares of the oil and natural gas company’s stock worth $20,942,000 after purchasing an additional 21,575 shares during the last quarter. Eagle Global Advisors LLC bought a new position in Diamondback Energy during the 4th quarter worth approximately $5,472,000. Hsbc Holdings PLC lifted its position in shares of Diamondback Energy by 16.3% in the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock worth $50,890,000 after purchasing an additional 47,450 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Diamondback Energy by 16.1% in the 4th quarter. Assetmark Inc. now owns 297,945 shares of the oil and natural gas company’s stock worth $44,790,000 after purchasing an additional 41,307 shares during the period. 90.01% of the stock is owned by institutional investors.

Insider Activity at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 83,334 shares of the stock in a transaction on 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 transaction, the director directly owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 113,691 shares of company stock valued at $21,622,752 in the last ninety days. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FANG shares. Morgan Stanley reduced their price objective on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Weiss Ratings downgraded shares of Diamondback Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Roth Capital set a $212.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a report on Monday, June 22nd. UBS Group cut 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, Susquehanna increased their price target on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $218.68.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $199.13 on Thursday. The stock has a market capitalization of $56.02 billion, a price-to-earnings ratio of 231.55 and a beta of 0.42. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The stock’s 50 day moving average price is $190.77 and its two-hundred day moving average price is $183.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

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

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.