Diamondback Energy (NASDAQ:FANG) Reaches New 12-Month High – Time to Buy?

Diamondback Energy, Inc. (NASDAQ:FANG) reached a new 52-week high on Tuesday . The stock traded as high as $172.80 and last traded at $165.77, with a volume of 91004 shares. The stock had previously closed at $169.14.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FANG. Piper Sandler increased their price target on Diamondback Energy from $215.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Citigroup decreased their target price on Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Roth Mkm set a $162.00 price target on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 4th. Susquehanna decreased their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $173.00 target price on shares of Diamondback Energy in a research note on Monday, January 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $185.90.

Diamondback Energy Stock Performance

The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $154.87 and a two-hundred day moving average price of $148.00. The company has a market cap of $47.80 billion, a price-to-earnings ratio of 11.60 and a beta of 0.63.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 60,605 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the completion of the transaction, the director owned 982,006 shares in the company, valued at approximately $158,220,806.72. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the insider owned 98,686,727 shares in the company, valued at approximately $16,074,094,093.76. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,438,516 shares of company stock worth $225,026,921 over the last quarter. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Diamondback Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Diamondback Energy by 105.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,828 shares of the oil and natural gas company’s stock worth $1,928,000 after buying an additional 6,589 shares in the last quarter. Concorde Financial Corp boosted its position in Diamondback Energy by 18.1% during the 4th quarter. Concorde Financial Corp now owns 36,394 shares of the oil and natural gas company’s stock worth $5,928,000 after acquiring an additional 5,583 shares during the last quarter. American Alpha Advisors LLC grew its stake in shares of Diamondback Energy by 14.9% during the 4th quarter. American Alpha Advisors LLC now owns 2,309 shares of the oil and natural gas company’s stock worth $347,000 after acquiring an additional 300 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Diamondback Energy by 0.3% in the fourth quarter. Private Advisor Group LLC now owns 36,729 shares of the oil and natural gas company’s stock valued at $5,521,000 after purchasing an additional 97 shares during the last quarter. Finally, Van Den Berg Management I Inc. lifted its position in shares of Diamondback Energy by 1.9% in the fourth quarter. Van Den Berg Management I Inc. now owns 84,661 shares of the oil and natural gas company’s stock worth $12,727,000 after purchasing an additional 1,616 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.