Talon Private Wealth LLC Purchases Shares of 10,082 Diamondback Energy, Inc. $FANG

Talon Private Wealth LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,082 shares of the oil and natural gas company’s stock, valued at approximately $1,994,000.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Diamondback Energy by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,441,622 shares of the oil and natural gas company’s stock valued at $216,719,000 after purchasing an additional 56,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Diamondback Energy by 18.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,308 shares of the oil and natural gas company’s stock worth $20,942,000 after buying an additional 21,575 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in Diamondback Energy during the fourth quarter worth approximately $5,472,000. Hsbc Holdings PLC raised its stake in Diamondback Energy by 16.3% in the fourth quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock valued at $50,890,000 after buying an additional 47,450 shares during the period. Finally, QSM Asset Management Ltd raised its stake in Diamondback Energy by 100.0% in the fourth quarter. QSM Asset Management Ltd now owns 61,000 shares of the oil and natural gas company’s stock valued at $9,170,000 after buying an additional 30,500 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the sale, the director owned 13,437 shares in the company, valued at $2,640,370.50. This represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 113,691 shares of company stock valued at $21,622,752. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FANG. UBS Group reduced their price objective on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Barclays increased their price objective on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Raymond James Financial reiterated a “strong-buy” rating and issued a $249.00 price target on shares of Diamondback Energy in a research note on Wednesday, June 10th. Finally, Truist Financial cut their price objective on shares of Diamondback Energy from $242.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $218.68.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $190.30 on Wednesday. The firm has a market cap of $53.53 billion, a PE ratio of 221.28 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The stock’s fifty day moving average price is $190.87 and its two-hundred day moving average price is $183.53. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.54 earnings per share. As a group, research analysts expect that Diamondback Energy, Inc. will post 18.9 EPS for the current fiscal year.

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.