SBI Securities Co. Ltd. Sells 66,273 Shares of Diamondback Energy, Inc. $FANG

SBI Securities Co. Ltd. lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 90.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,863 shares of the oil and natural gas company’s stock after selling 66,273 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Diamondback Energy were worth $982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FANG. Smead Capital Management Inc. bought a new position in Diamondback Energy in the 2nd quarter worth $144,775,000. Vanguard Group Inc. raised its holdings in Diamondback Energy by 1.7% during the second quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after acquiring an additional 388,512 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 9.0% in the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after acquiring an additional 384,971 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Diamondback Energy by 44.8% in the second quarter. American Century Companies Inc. now owns 985,844 shares of the oil and natural gas company’s stock worth $135,456,000 after acquiring an additional 305,207 shares during the period. Finally, Apollo Management Holdings L.P. purchased a new stake in shares of Diamondback Energy during the second quarter worth about $31,937,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FANG shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $173.00 price target on shares of Diamondback Energy in a report on Friday, October 10th. Mizuho lowered their target price on shares of Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. UBS Group upped their target price on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Citigroup cut their target price on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Finally, Piper Sandler boosted their price target on shares of Diamondback Energy from $215.00 to $218.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $185.90.

Diamondback Energy Trading Up 1.3%

Shares of FANG opened at $166.93 on Friday. The stock has a market capitalization of $47.81 billion, a PE ratio of 11.60 and a beta of 0.63. The company’s fifty day moving average is $153.68 and its 200 day moving average is $147.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $169.49.

Insider Transactions at Diamondback Energy

In other news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total value of $162,880,000.00. Following the sale, the insider directly owned 98,686,727 shares in the company, valued at $16,074,094,093.76. The trade was a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles Alvin Meloy sold 60,605 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the completion of the transaction, the director directly owned 982,006 shares of the company’s stock, valued at approximately $158,220,806.72. The trade was a 5.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,438,516 shares of company stock worth $225,026,921. Insiders own 0.70% 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.