NEOS Investment Management LLC Raises Stock Holdings in Diamondback Energy, Inc. $FANG

NEOS Investment Management LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 85.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,299 shares of the oil and natural gas company’s stock after purchasing an additional 49,081 shares during the period. NEOS Investment Management LLC’s holdings in Diamondback Energy were worth $15,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FANG. Vanguard Group Inc. grew its position in shares of 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 worth $3,204,894,000 after buying an additional 388,512 shares during the last quarter. Boston Partners boosted its stake in Diamondback Energy by 2.8% in 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 acquiring an additional 151,150 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $746,526,000 after purchasing an additional 142,649 shares during 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. increased its position in shares of Diamondback Energy by 9.2% during the second quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock worth $268,243,000 after purchasing an additional 164,293 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the company’s 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 directly owned 98,686,727 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Alvin Meloy sold 60,605 shares of Diamondback Energy stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $161.12, for a total value of $9,764,677.60. Following the transaction, the director owned 982,006 shares of the company’s stock, valued at $158,220,806.72. The trade was a 5.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,438,516 shares of company stock valued at $225,026,921. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FANG. TD Cowen upgraded Diamondback Energy to a “strong-buy” rating in a research note on Monday, February 9th. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. 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. Citigroup decreased their price objective on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Finally, UBS Group boosted their target price on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Two investment 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 MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $185.90.

Diamondback Energy Trading Down 0.3%

Diamondback Energy stock opened at $168.59 on Wednesday. The stock has a 50-day moving average price of $155.08 and a 200 day moving average price of $148.16. The company has a market capitalization of $48.28 billion, a price-to-earnings ratio of 11.72 and a beta of 0.63. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $172.80. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35.

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.