Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Lowered by Castleark Management LLC

Castleark Management LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,135 shares of the oil and natural gas company’s stock after selling 1,830 shares during the period. Castleark Management LLC’s holdings in Diamondback Energy were worth $3,594,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FANG. Founders Capital Management lifted its holdings in Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the period. Logan Capital Management Inc. acquired a new stake in Diamondback Energy in the fourth quarter worth about $31,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Diamondback Energy in the fourth quarter worth about $34,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Diamondback Energy in the first quarter worth about $49,000. Finally, First Horizon Advisors Inc. lifted its holdings in Diamondback Energy by 37.3% in the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 87 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the subject of several research analyst reports. Barclays initiated coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Royal Bank of Canada raised their price objective on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Mizuho raised their price objective on shares of Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Piper Sandler raised their price objective on shares of Diamondback Energy from $247.00 to $249.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.65.

Diamondback Energy Stock Down 2.6 %

Shares of NASDAQ FANG traded down $5.26 during mid-day trading on Thursday, reaching $197.05. The company had a trading volume of 425,415 shares, compared to its average volume of 1,558,480. The stock has a fifty day moving average of $198.21 and a two-hundred day moving average of $189.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. The company has a market capitalization of $35.14 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.06 and a beta of 1.90. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.10 earnings per share. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 18.63 EPS for the current year.

Insider Transactions at Diamondback Energy

In other news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.