Hantz Financial Services Inc. Trims Stock Holdings in Diamondback Energy, Inc. $FANG

Hantz Financial Services Inc. reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 55,309 shares of the oil and natural gas company’s stock after selling 5,674 shares during the quarter. Hantz Financial Services Inc.’s holdings in Diamondback Energy were worth $7,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in Diamondback Energy during the 2nd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Diamondback Energy by 106.3% during the third 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 buying an additional 102 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the second quarter worth about $29,000. Salomon & Ludwin LLC purchased a new position in shares of Diamondback Energy during the third quarter worth about $31,000. Finally, Estabrook Capital Management acquired a new position in Diamondback Energy in the 2nd quarter valued at about $41,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 3.8%

Shares of Diamondback Energy stock opened at $168.99 on Thursday. The company has a 50-day moving average of $153.08 and a two-hundred day moving average of $146.83. The stock has a market cap of $48.40 billion, a PE ratio of 11.74 and a beta of 0.63. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $169.49.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.14. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.Diamondback Energy’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period last year, the business posted $3.19 EPS. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Citigroup decreased their price target on Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. 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. Finally, Morgan Stanley dropped their price target on shares of Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.90.

Insider Buying and Selling at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the transaction, the director 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Company 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.