Krilogy Financial LLC Takes Position in Diamondback Energy, Inc. $FANG

Krilogy Financial LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,881 shares of the oil and natural gas company’s stock, valued at approximately $945,000.

A number of other hedge funds also recently bought and sold shares of FANG. Creekmur Asset Management LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Diamondback Energy by 106.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 102 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Diamondback Energy in the 2nd quarter worth $29,000. Salomon & Ludwin LLC acquired a new position in Diamondback Energy during the third quarter worth $31,000. Finally, Estabrook Capital Management purchased a new position in Diamondback Energy during the second quarter valued at $41,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of Diamondback Energy stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Alvin Meloy sold 60,605 shares of the business’s 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 transaction, the director directly owned 982,006 shares in the company, valued at approximately $158,220,806.72. The trade was a 5.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,438,516 shares of company stock valued at $225,026,921 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $167.42 on Friday. The business’s 50 day moving average price is $154.42 and its 200 day moving average price is $147.78. The company has a market cap of $47.95 billion, a price-to-earnings ratio of 11.63 and a beta of 0.63. 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 one year low of $114.00 and a one year high of $170.54.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FANG. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Morgan Stanley lowered their price objective on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. UBS Group boosted their price objective on Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Sanford C. Bernstein decreased their target price on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Finally, Wall Street Zen lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $185.90.

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.