Varma Mutual Pension Insurance Co Boosts Stake in Diamondback Energy, Inc. $FANG

Varma Mutual Pension Insurance Co lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,899 shares of the oil and natural gas company’s stock after buying an additional 8,500 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Diamondback Energy were worth $15,440,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position 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 lifted its position in shares of Diamondback Energy by 2.8% during the second quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after buying an additional 151,150 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Diamondback Energy by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock worth $746,526,000 after acquiring an additional 142,649 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Diamondback Energy by 9.2% in the second 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 buying an additional 164,293 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $167.42 on Friday. The company’s 50-day moving average is $154.42 and its two-hundred day moving average is $147.78. The firm has a market capitalization of $47.95 billion, a price-to-earnings ratio of 11.63 and a beta of 0.63. 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 1-year low of $114.00 and a 1-year high of $170.54.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FANG shares. Roth Mkm set a $162.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a report on Monday, December 29th. Citigroup lowered their price target on Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Mizuho decreased their price objective on shares of Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. Finally, Scotiabank set a $175.00 price target on Diamondback Energy in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $185.90.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the company’s 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 owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the stock in a transaction dated 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 directly owned 98,686,727 shares of the company’s stock, valued at approximately $16,074,094,093.76. This trade represents a 1.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,438,516 shares of company stock worth $225,026,921. Corporate insiders own 0.70% of the company’s stock.

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.