Diamond Hill Capital Management Inc. Has $386.52 Million Stock Holdings in Diamondback Energy, Inc. $FANG

Diamond Hill Capital Management Inc. reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,701,053 shares of the oil and natural gas company’s stock after selling 6,277 shares during the period. Diamondback Energy makes up 1.8% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 17th biggest position. Diamond Hill Capital Management Inc.’s holdings in Diamondback Energy were worth $386,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Diamondback Energy by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after buying an additional 388,512 shares during the period. Boston Partners boosted its position in shares of Diamondback Energy by 2.8% during the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock worth $766,914,000 after acquiring an additional 151,150 shares in the last quarter. Geode Capital Management LLC increased its stake in Diamondback Energy by 2.7% in the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after acquiring an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after purchasing an additional 384,971 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of Diamondback Energy by 9.2% in the 2nd quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock valued at $268,243,000 after purchasing an additional 164,293 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FANG. Mizuho dropped their price objective on Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Roth Mkm set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. UBS Group raised their price target on shares of Diamondback Energy from $174.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $173.00 target price on shares of Diamondback Energy in a research report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.90.

Diamondback Energy Trading Up 1.3%

FANG opened at $166.93 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $169.49. The company’s 50 day moving average price is $153.68 and its two-hundred day moving average price is $147.18. The firm has a market capitalization of $47.81 billion, a price-to-earnings ratio of 11.60 and a beta of 0.63.

Insiders Place Their Bets

In related 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 value of $162,880,000.00. Following the completion of the sale, the insider directly owned 98,686,727 shares in the company, valued at $16,074,094,093.76. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles Alvin Meloy sold 60,605 shares of Diamondback Energy stock in a transaction dated 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 transaction, the director directly owned 982,006 shares in the company, valued at $158,220,806.72. The trade was a 5.81% 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 valued at $225,026,921 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

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.