NEOS Investment Management LLC Acquires 49,081 Shares of Diamondback Energy, Inc. $FANG

NEOS Investment Management LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 85.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,299 shares of the oil and natural gas company’s stock after buying an additional 49,081 shares during the period. NEOS Investment Management LLC’s holdings in Diamondback Energy were worth $15,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Creekmur Asset Management LLC purchased a new stake in Diamondback Energy during the second quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of 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 worth $28,000 after purchasing an additional 102 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $29,000. Salomon & Ludwin LLC purchased a new stake in Diamondback Energy during the 3rd quarter valued at $31,000. Finally, Estabrook Capital Management bought a new stake in Diamondback Energy in the second quarter worth $41,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $162.88, for a total transaction of $162,880,000.00. Following the transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,438,516 shares of company stock worth $225,026,921 over the last 90 days. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on FANG. Jefferies Financial Group reiterated a “hold” rating and set a $173.00 price objective on shares of Diamondback Energy in a research report on Monday, January 19th. Scotiabank set a $175.00 price objective on shares of Diamondback Energy in a research report on Friday, January 16th. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. UBS Group upped their target price on Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Sanford C. Bernstein reduced their price target on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Two equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $185.90.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $168.59 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The company has a market capitalization of $48.28 billion, a PE ratio of 11.72 and a beta of 0.63. The company has a 50 day moving average price of $155.08 and a 200-day moving average price of $148.16. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $172.80.

About Diamondback Energy

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.