Diamondback Energy, Inc. $FANG Stock: One Way Holdings LLC Grows Position

One Way Holdings LLC raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,764 shares of the oil and natural gas company’s stock after purchasing an additional 7,505 shares during the quarter. One Way Holdings LLC’s holdings in Diamondback Energy were worth $23,301,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Diamondback Energy in the 2nd quarter worth $3,303,362,000. Bank of New York Mellon Corp bought a new stake in Diamondback Energy during the second quarter valued at about $852,791,000. Wellington Management Group LLP increased its position in Diamondback Energy by 31.3% in the second quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock worth $2,886,351,000 after buying an additional 3,918,943 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Diamondback Energy in the second quarter worth about $268,855,000. Finally, Legal & General Group Plc bought a new position in shares of Diamondback Energy in the second quarter worth about $176,828,000. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Diamondback Energy news, Director Travis Stice sold 75,000 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the sale, the director directly owned 49,727 shares of the company’s stock, valued at $10,159,723.37. The trade was a 60.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Meloy sold 33,333 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the completion of the sale, the director owned 759,864 shares of the company’s stock, valued at $139,617,411.36. This represents a 4.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is owned by insiders.

Diamondback Energy Price Performance

FANG stock opened at $212.08 on Monday. The firm has a market capitalization of $59.39 billion, a P/E ratio of 41.34 and a beta of 0.49. Diamondback Energy, Inc. has a 52 week low of $137.03 and a 52 week high of $216.90. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $197.38 and a two-hundred day simple moving average of $189.06.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the company earned $2.38 earnings per share. Diamondback Energy’s revenue was up 51.2% on a year-over-year basis. Analysts anticipate that Diamondback Energy, Inc. will post 21.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FANG shares. BMO Capital Markets boosted their price objective on Diamondback Energy from $215.00 to $224.00 and gave the company an “outperform” rating in a research note on Friday, October 2nd. Morgan Stanley lifted their price target on shares of Diamondback Energy from $216.00 to $222.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. Seaport Research Partners assumed coverage on shares of Diamondback Energy in a research note on Thursday, September 3rd. They issued a “neutral” rating for the company. Citigroup lowered their target price on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Stephens reissued an “outperform” rating on shares of Diamondback Energy in a report on Tuesday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $228.43.

Diamondback Energy Profile

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company’s operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.