Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Callahan Advisors LLC

Callahan Advisors LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,419 shares of the oil and natural gas company’s stock after acquiring an additional 91 shares during the period. Callahan Advisors LLC’s holdings in Diamondback Energy were worth $1,107,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Community Trust NA acquired a new position in Diamondback Energy during the second quarter worth about $26,000. Carolinas Wealth Consulting LLC grew its stake in Diamondback Energy by 67.1% during 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 acquiring an additional 55 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy during the 3rd quarter valued at about $42,000. Finally, Founders Capital Management grew its stake in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Piper Sandler lifted their target price on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. UBS Group lowered their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Benchmark reissued a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, StockNews.com cut Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

Diamondback Energy Stock Down 2.3 %

Shares of FANG stock opened at $175.63 on Wednesday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The firm has a market cap of $51.77 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. The stock has a 50 day moving average of $182.56 and a 200-day moving average of $192.61. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.49 earnings per share. On average, equities analysts predict 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.