Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by HM Payson & Co.

HM Payson & Co. increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,641 shares of the oil and natural gas company’s stock after acquiring an additional 327 shares during the period. HM Payson & Co.’s holdings in Diamondback Energy were worth $1,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Founders Capital Management lifted its stake in Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. Logan Capital Management Inc. purchased a new stake in Diamondback Energy in the 4th quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Diamondback Energy in the 4th quarter valued at approximately $34,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Diamondback Energy in the 1st quarter valued at approximately $49,000. Finally, First Horizon Advisors Inc. lifted its stake in Diamondback Energy by 37.3% in the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FANG has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Barclays assumed coverage on Diamondback Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective on the stock. Scotiabank decreased their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Bank of America raised their price objective on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Mizuho raised their price objective on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.65.

Diamondback Energy Stock Down 4.6 %

NASDAQ:FANG traded down $9.16 during mid-day trading on Friday, hitting $189.06. The company had a trading volume of 1,999,255 shares, compared to its average volume of 1,129,321. The business has a fifty day simple moving average of $198.25 and a 200-day simple moving average of $189.93. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50. The firm has a market capitalization of $33.72 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.06 and a beta of 1.90.

Diamondback Energy Profile

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.