Assetmark Inc. Has $36.73 Million Stake in Diamondback Energy, Inc. $FANG

Assetmark Inc. lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 256,638 shares of the oil and natural gas company’s stock after purchasing an additional 5,936 shares during the quarter. Assetmark Inc. owned approximately 0.09% of Diamondback Energy worth $36,725,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC grew its position in Diamondback Energy by 48.0% in the 2nd quarter. CWM LLC now owns 12,170 shares of the oil and natural gas company’s stock worth $1,672,000 after purchasing an additional 3,945 shares during the last quarter. MGO One Seven LLC boosted its position in Diamondback Energy by 111.4% in the second quarter. MGO One Seven LLC now owns 3,325 shares of the oil and natural gas company’s stock valued at $457,000 after buying an additional 1,752 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Diamondback Energy by 9.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,520 shares of the oil and natural gas company’s stock worth $896,000 after acquiring an additional 587 shares during the last quarter. Praxis Investment Management Inc. raised its holdings in shares of Diamondback Energy by 39.0% in the second quarter. Praxis Investment Management Inc. now owns 7,020 shares of the oil and natural gas company’s stock valued at $965,000 after buying an additional 1,970 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Diamondback Energy by 13.5% during the second quarter. Private Trust Co. NA now owns 1,796 shares of the oil and natural gas company’s stock valued at $247,000 after purchasing an additional 214 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FANG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Jefferies Financial Group restated a “hold” rating and set a $173.00 price objective on shares of Diamondback Energy in a report on Monday, January 19th. Morgan Stanley cut their target price on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. TD Cowen raised shares of Diamondback Energy to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Piper Sandler increased their price objective on Diamondback Energy from $215.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $185.90.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $169.14 on Friday. The stock has a fifty day simple moving average of $154.63 and a 200 day simple moving average of $147.91. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $48.44 billion, a price-to-earnings ratio of 11.75 and a beta of 0.63. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $170.54.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total value of $162,880,000.00. Following the completion of the sale, the insider directly owned 98,686,727 shares of the company’s stock, valued at approximately $16,074,094,093.76. This represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles Alvin Meloy sold 377,911 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director directly owned 1,044,864 shares in the company, valued at $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,438,516 shares of company stock worth $225,026,921 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

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.