SCP Investment LP Purchases 3,800 Shares of Diamondback Energy, Inc. $FANG

SCP Investment LP grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 55.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,608 shares of the oil and natural gas company’s stock after acquiring an additional 3,800 shares during the period. Diamondback Energy comprises 1.2% of SCP Investment LP’s portfolio, making the stock its 15th largest position. SCP Investment LP’s holdings in Diamondback Energy were worth $1,518,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its position in Diamondback Energy by 233.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 12,673 shares of the oil and natural gas company’s stock valued at $1,814,000 after acquiring an additional 8,877 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Diamondback Energy by 9.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,733 shares of the oil and natural gas company’s stock valued at $16,848,000 after purchasing an additional 10,289 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $472,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Diamondback Energy by 9.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,385,428 shares of the oil and natural gas company’s stock worth $198,255,000 after purchasing an additional 122,921 shares during the period. Finally, WoodTrust Financial Corp purchased a new position in shares of Diamondback Energy in the third quarter worth approximately $1,624,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Charles Alvin Meloy sold 60,605 shares of Diamondback Energy stock in a transaction that occurred on 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 completion of the sale, the director directly owned 982,006 shares in the company, valued at $158,220,806.72. This trade represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of Diamondback Energy stock in a transaction dated Tuesday, February 3rd. The stock was 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 $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. Over the last three months, insiders have sold 1,438,516 shares of company stock valued at $225,026,921. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup reduced their target price on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Morgan Stanley reduced their price objective on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Scotiabank set a $175.00 target price on shares of Diamondback Energy in a research note on Friday, January 16th. Finally, Wall Street Zen cut Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $185.90.

Diamondback Energy Price Performance

Shares of FANG stock opened at $168.59 on Wednesday. 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 market capitalization of $48.28 billion, a price-to-earnings ratio of 11.72 and a beta of 0.63. The stock has a fifty day simple moving average of $155.08 and a two-hundred day simple moving average of $148.16. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $172.80.

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.