Envestnet Asset Management Inc. Has $64.48 Million Position in Diamondback Energy, Inc. $FANG

Envestnet Asset Management Inc. cut its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 450,557 shares of the oil and natural gas company’s stock after selling 13,410 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of Diamondback Energy worth $64,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FANG. Uhlmann Price Securities LLC grew its stake in Diamondback Energy by 1.3% in the second quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock valued at $699,000 after acquiring an additional 67 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Diamondback Energy by 3.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,568 shares of the oil and natural gas company’s stock valued at $367,000 after purchasing an additional 74 shares in the last quarter. Viawealth LLC grew its position in shares of Diamondback Energy by 5.0% in the 2nd quarter. Viawealth LLC now owns 1,753 shares of the oil and natural gas company’s stock valued at $241,000 after purchasing an additional 83 shares during the period. STF Management LP increased its stake in Diamondback Energy by 1.9% during the 2nd quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock worth $617,000 after purchasing an additional 84 shares in the last quarter. Finally, Lodestone Wealth Management LLC increased its stake in Diamondback Energy by 1.2% during the 3rd quarter. Lodestone Wealth Management LLC now owns 7,219 shares of the oil and natural gas company’s stock worth $1,033,000 after purchasing an additional 84 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Roth Mkm set a $162.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. UBS Group lifted their price target on Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Morgan Stanley cut their price target on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Finally, Scotiabank set a $175.00 price objective on Diamondback Energy in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.90.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the 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 transaction, the insider directly owned 98,686,727 shares of the company’s stock, valued at $16,074,094,093.76. This represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Alvin Meloy sold 60,605 shares of Diamondback Energy stock in a transaction that occurred 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 directly owned 982,006 shares of the company’s stock, valued at approximately $158,220,806.72. The trade was a 5.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,438,516 shares of company stock valued at $225,026,921 in the last ninety days. Insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $166.93 on Monday. 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 business has a 50-day moving average of $153.68 and a 200-day moving average of $147.20. The stock has a market capitalization of $47.81 billion, a price-to-earnings ratio of 11.60 and a beta of 0.63. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $169.49.

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.