Diamondback Energy, Inc. $FANG Holdings Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,766 shares of the oil and natural gas company’s stock after acquiring an additional 4,340 shares during the period. Thrivent Financial for Lutherans’ holdings in Diamondback Energy were worth $5,691,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. Commerzbank Aktiengesellschaft FI raised its stake in Diamondback Energy by 233.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 12,673 shares of the oil and natural gas company’s stock valued at $1,814,000 after purchasing an additional 8,877 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Diamondback Energy by 9.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,733 shares of the oil and natural gas company’s stock valued at $16,848,000 after buying an additional 10,289 shares in the last quarter. NorthRock Partners LLC raised its position in Diamondback Energy by 181.6% during the second quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company’s stock valued at $488,000 after buying an additional 2,290 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Diamondback Energy by 9.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,385,428 shares of the oil and natural gas company’s stock worth $198,255,000 after acquiring an additional 122,921 shares in the last quarter. Finally, WoodTrust Financial Corp purchased a new stake in Diamondback Energy in the 3rd quarter worth about $1,624,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 1.3%

Diamondback Energy stock opened at $166.93 on Friday. 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 1-year low of $114.00 and a 1-year high of $169.49. The firm’s fifty day simple moving average is $153.68 and its 200-day simple moving average is $147.14. The company has a market capitalization of $47.81 billion, a P/E ratio of 11.60 and a beta of 0.63.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein dropped their target price on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Citigroup dropped their price objective 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. Piper Sandler lifted their target price on shares of Diamondback Energy from $215.00 to $218.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. UBS Group upped their price target on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $173.00 price objective on shares of Diamondback Energy in a report on Monday, January 19th. One analyst has 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.90.

Insider Activity

In other Diamondback Energy news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was 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 owned 98,686,727 shares of the company’s stock, valued at $16,074,094,093.76. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the transaction, the director directly owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,438,516 shares of company stock worth $225,026,921. Corporate insiders own 0.70% of the company’s stock.

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.