Assetmark Inc. Boosts Stock Position in Diamondback Energy, Inc. $FANG

Assetmark Inc. lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 256,638 shares of the oil and natural gas company’s stock after purchasing an additional 5,936 shares during the period. Assetmark Inc.’s holdings in Diamondback Energy were worth $36,725,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the stock. Uhlmann Price Securities LLC lifted its stake in Diamondback Energy by 1.3% in the second quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock worth $699,000 after acquiring an additional 67 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Diamondback Energy by 3.0% in the third quarter. Valeo Financial Advisors LLC now owns 2,568 shares of the oil and natural gas company’s stock worth $367,000 after buying an additional 74 shares in the last quarter. Viawealth LLC boosted its stake in Diamondback Energy by 5.0% during the 2nd quarter. Viawealth LLC now owns 1,753 shares of the oil and natural gas company’s stock valued at $241,000 after purchasing an additional 83 shares during the last quarter. STF Management LP increased its holdings in Diamondback Energy by 1.9% in the 2nd quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock worth $617,000 after buying an additional 84 shares in the last quarter. Finally, Lodestone Wealth Management LLC raised its holdings in shares of Diamondback Energy by 1.2% during the third quarter. Lodestone Wealth Management LLC now owns 7,219 shares of the oil and natural gas company’s stock valued at $1,033,000 after purchasing an additional 84 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total value of $162,880,000.00. Following the sale, the insider 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy 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. The trade was a 26.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,438,516 shares of company stock valued at $225,026,921 over the last three months. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on FANG shares. Roth Mkm set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Susquehanna decreased their price target on Diamondback Energy to $188.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Morgan Stanley lowered their target price on shares of Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. UBS Group boosted their target price on Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Piper Sandler increased their price objective on shares of Diamondback Energy from $215.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Buy” and a consensus target price of $185.90.

Diamondback Energy Trading Up 1.0%

Shares of NASDAQ:FANG opened at $169.14 on Friday. The firm has a market capitalization of $48.44 billion, a P/E ratio of 11.75 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. The business’s 50-day moving average is $154.63 and its 200 day moving average is $147.91. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $170.54.

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.