Diamondback Energy, Inc. $FANG Position Decreased by Profund Advisors LLC

Profund Advisors LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,330 shares of the oil and natural gas company’s stock after selling 3,313 shares during the quarter. Profund Advisors LLC’s holdings in Diamondback Energy were worth $4,840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vise Technologies Inc. raised its holdings in shares of Diamondback Energy by 23.2% in the 3rd quarter. Vise Technologies Inc. now owns 11,171 shares of the oil and natural gas company’s stock valued at $2,053,000 after purchasing an additional 2,103 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of Diamondback Energy by 5.6% during the third quarter. Cidel Asset Management Inc. now owns 1,430 shares of the oil and natural gas company’s stock worth $263,000 after purchasing an additional 76 shares in the last quarter. Unison Advisors LLC grew its stake in shares of Diamondback Energy by 0.6% during the third quarter. Unison Advisors LLC now owns 16,340 shares of the oil and natural gas company’s stock worth $3,003,000 after purchasing an additional 96 shares in the last quarter. Invera Wealth Advisors LLC grew its stake in shares of Diamondback Energy by 11.3% during the third quarter. Invera Wealth Advisors LLC now owns 2,960 shares of the oil and natural gas company’s stock worth $544,000 after purchasing an additional 301 shares in the last quarter. Finally, Avestar Capital LLC purchased a new position in Diamondback Energy in the third quarter valued at $386,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Meloy sold 33,333 shares of Diamondback Energy stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the transaction, the director directly owned 759,864 shares in the company, valued at approximately $139,617,411.36. This trade represents a 4.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis Stice sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the transaction, the director directly owned 49,727 shares in the company, valued at approximately $10,159,723.37. The trade was a 60.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 141,666 shares of company stock valued at $28,061,456 over the last ninety days. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on FANG shares. UBS Group increased their price objective on Diamondback Energy from $243.00 to $253.00 and gave the company a “buy” rating in a report on Monday, September 14th. JPMorgan Chase & Co. upped their price target on Diamondback Energy from $211.00 to $233.00 in a report on Wednesday, August 5th. Sanford C. Bernstein restated an “outperform” rating and set a $240.00 price objective (up from $221.00) on shares of Diamondback Energy in a research report on Wednesday, September 2nd. Citigroup reduced their price objective on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, BMO Capital Markets upped their target price on shares of Diamondback Energy from $215.00 to $224.00 and gave the company an “outperform” rating in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $228.43.

Diamondback Energy Stock Up 2.7%

FANG stock opened at $212.08 on Friday. The company has a fifty day moving average price of $197.38 and a 200 day moving average price of $189.06. Diamondback Energy, Inc. has a 12 month low of $137.03 and a 12 month high of $216.90. The company has a market cap of $59.39 billion, a price-to-earnings ratio of 41.34 and a beta of 0.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.38 EPS. Sell-side analysts expect that Diamondback Energy, Inc. will post 21.49 earnings per share for the current year.

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company’s operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.