4,502 Shares in Diamondback Energy, Inc. $FANG Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,502 shares of the oil and natural gas company’s stock, valued at approximately $890,000.

Several other institutional investors have also recently bought and sold shares of the company. Boston Partners grew its stake in shares of Diamondback Energy by 2.9% during the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after acquiring an additional 163,548 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after purchasing an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after purchasing an additional 532,756 shares in the last quarter. Capital Research Global Investors boosted its holdings in Diamondback Energy by 14.1% during the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock worth $651,363,000 after purchasing an additional 534,073 shares during the last quarter. Finally, Morgan Stanley grew its position in Diamondback Energy by 3.2% in the fourth quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock valued at $575,605,000 after purchasing an additional 117,798 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.3%

FANG opened at $199.77 on Friday. The stock’s fifty day simple moving average is $190.74 and its 200 day simple moving average is $184.26. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The stock has a market cap of $56.20 billion, a PE ratio of 232.29 and a beta of 0.42. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $3.74 by $0.49. The firm had revenue of $4.24 billion for 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 period in the previous year, the company earned $4.54 earnings per share. As a group, research analysts expect that Diamondback Energy, Inc. will post 18.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FANG shares. UBS Group lowered 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 note on Tuesday, July 21st. Zacks Research cut Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Mizuho increased their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, Susquehanna raised their price target on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $218.68.

Insider Transactions at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated 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. This trade represents a 9.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,691 shares of company stock worth $21,622,752 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

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.