Diamondback Energy, Inc. (NASDAQ:FANG) Position Cut by Fiduciary Family Office LLC

Fiduciary Family Office LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,723 shares of the oil and natural gas company’s stock after selling 261 shares during the quarter. Fiduciary Family Office LLC’s holdings in Diamondback Energy were worth $1,676,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FANG. First Community Trust NA acquired a new position in shares of Diamondback Energy during the second quarter valued at $26,000. Carolinas Wealth Consulting LLC grew its position in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Founders Capital Management grew its holdings in Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of a number of analyst reports. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price on the stock. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Evercore ISI dropped their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded down $4.12 during trading hours on Tuesday, hitting $175.64. 1,295,766 shares of the stock were exchanged, compared to its average volume of 1,728,526. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company’s 50 day moving average is $182.94 and its 200 day moving average is $192.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a market capitalization of $51.77 billion, a P/E ratio of 9.29, a P/E/G ratio of 1.23 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $5.49 earnings per share. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, research analysts expect that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.