Legacy CG LLC Cuts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Legacy CG LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,561 shares of the oil and natural gas company’s stock after selling 2,229 shares during the period. Diamondback Energy comprises 1.6% of Legacy CG LLC’s investment portfolio, making the stock its 28th largest holding. Legacy CG LLC’s holdings in Diamondback Energy were worth $4,924,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FANG. Quent Capital LLC boosted its holdings in shares of Diamondback Energy by 7.2% in the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after buying an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its stake in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Financial Advocates Investment Management increased its holdings in shares of Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after purchasing an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of Diamondback Energy by 0.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after purchasing an additional 56 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Diamondback Energy by 16.1% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after purchasing an additional 57 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FANG shares. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Bank of America boosted their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Susquehanna lowered their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Finally, Wolfe Research initiated coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $210.09.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 2.2 %

Shares of FANG stock opened at $179.76 on Tuesday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $182.94 and its two-hundred day moving average is $192.79. The company has a market cap of $52.98 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. Diamondback Energy’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the company posted $3.68 earnings per share. Equities analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.