Homestead Advisers Corp Cuts Stock Position in Diamondback Energy, Inc. $FANG

Homestead Advisers Corp decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,100 shares of the oil and natural gas company’s stock after selling 3,900 shares during the period. Homestead Advisers Corp owned about 0.07% of Diamondback Energy worth $29,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Creekmur Asset Management LLC acquired a new stake in shares of Diamondback Energy in the second quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Diamondback Energy by 106.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 102 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Diamondback Energy in the 2nd quarter worth about $29,000. Salomon & Ludwin LLC acquired a new stake in Diamondback Energy in the 3rd quarter worth about $31,000. Finally, Estabrook Capital Management purchased a new stake in Diamondback Energy during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 60,605 shares of Diamondback Energy stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $161.12, for a total value of $9,764,677.60. Following the sale, the director owned 982,006 shares in the company, valued at $158,220,806.72. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

Shares of FANG stock opened at $168.99 on Thursday. 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 company has a market capitalization of $48.40 billion, a PE ratio of 11.74 and a beta of 0.63. The firm’s 50-day moving average is $153.08 and its two-hundred day moving average is $146.83. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $169.49.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm earned $3.19 EPS. The business’s revenue was up 48.4% compared to the same quarter last year. Analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FANG. Wells Fargo & Company lifted their price target on Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Citigroup lowered their target price on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Piper Sandler raised their price target on shares of Diamondback Energy from $215.00 to $218.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Finally, Roth Mkm set a $162.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.90.

Diamondback Energy Profile

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.