Key Points
- Fang Holdings Lp Sgf sold 1,000,000 shares of Diamondback Energy on February 3 at an average price of $162.88, raising about $162.88 million and trimming its stake by 1% to 98,686,727 shares (valued at roughly $16.07 billion).
- The sale follows a November 28 disposal of 2,000,000 shares at $152.59 (~$305.18M), meaning Fang has recently sold about 3,000,000 shares for approximately $468.06 million total.
- Market context: FANG opened at $164.78 (down ~2.5%), recently beat quarterly EPS estimates ($3.08 vs. $2.94) with revenue up 48.4% YoY, and carries a consensus "Moderate Buy" analyst rating with an average price target of $185.90.
Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of Diamondback Energy stock in a transaction on 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 completion of the sale, the insider directly owned 98,686,727 shares of the company's stock, valued at approximately $16,074,094,093.76. This represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Fang Holdings Lp Sgf also recently made the following trade(s):
- On Friday, November 28th, Fang Holdings Lp Sgf sold 2,000,000 shares of Diamondback Energy stock. The stock was sold at an average price of $152.59, for a total value of $305,180,000.00.
Diamondback Energy Stock Down 2.5%
FANG opened at $164.78 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market capitalization of $47.19 billion, a price-to-earnings ratio of 11.45 and a beta of 0.63. The business has a 50-day moving average of $153.39 and a two-hundred day moving average of $146.95. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $169.49.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the firm posted $3.19 EPS. The company's revenue was up 48.4% on a year-over-year basis. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.
Hedge Funds Weigh In On Diamondback Energy
A number of institutional investors and hedge funds have recently bought and sold shares of FANG. Smead Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the second quarter worth $144,775,000. Capital Research Global Investors increased its holdings in Diamondback Energy by 38.0% in the 3rd quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company's stock valued at $543,610,000 after buying an additional 1,046,398 shares during the period. Balyasny Asset Management L.P. lifted its stake in Diamondback Energy by 2,637.8% during the third quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company's stock worth $65,352,000 after purchasing an additional 440,005 shares during the period. Vanguard Group Inc. raised its stake 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 worth $3,204,894,000 after acquiring an additional 388,512 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 9.0% during the 2nd 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 purchasing an additional 384,971 shares during the last quarter. Institutional investors own 90.01% of the company's stock.
Analyst Upgrades and Downgrades
FANG has been the subject of several research reports. Sanford C. Bernstein lowered their price objective on shares of Diamondback Energy from $199.00 to $190.00 and set an "outperform" rating for the company in a research note on Monday, January 5th. Susquehanna dropped their price target on Diamondback Energy to $188.00 and set a "positive" rating for the company in a research note on Monday, October 20th. Wall Street Zen downgraded Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, December 27th. UBS Group boosted their target price on Diamondback Energy from $174.00 to $194.00 and gave the stock a "buy" rating in a report on Friday, December 12th. Finally, Piper Sandler boosted their price target on Diamondback Energy from $215.00 to $218.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $185.90.
Get Our Latest Stock Report on Diamondback Energy
About Diamondback Energy
(
Get Free Report)
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.
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