Diamondback Energy, Inc. (NASDAQ:FANG) Position Boosted by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,023 shares of the oil and natural gas company’s stock after buying an additional 139 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Diamondback Energy were worth $1,206,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Diamondback Energy by 61.2% during the second quarter. GAMMA Investing LLC now owns 2,835 shares of the oil and natural gas company’s stock valued at $568,000 after acquiring an additional 1,076 shares during the period. Park Place Capital Corp increased its holdings in shares of Diamondback Energy by 161.0% during the second quarter. Park Place Capital Corp now owns 3,114 shares of the oil and natural gas company’s stock valued at $623,000 after purchasing an additional 1,921 shares during the period. Capital Market Strategies LLC raised its stake in shares of Diamondback Energy by 4.9% during the second quarter. Capital Market Strategies LLC now owns 2,716 shares of the oil and natural gas company’s stock valued at $544,000 after purchasing an additional 126 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in Diamondback Energy by 1.6% in the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after purchasing an additional 58 shares during the period. Finally, HM Payson & Co. raised its position in shares of Diamondback Energy by 3.9% during the 1st quarter. HM Payson & Co. now owns 8,641 shares of the oil and natural gas company’s stock worth $1,712,000 after buying an additional 327 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FANG. Morgan Stanley dropped their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. KeyCorp started coverage on Diamondback Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price target on the stock. Piper Sandler upped their target price on Diamondback Energy from $247.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Scotiabank cut their price target on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Royal Bank of Canada raised their price objective on shares of Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $209.65.

Insider Buying and Selling at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at $13,736,123.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $4.52 during trading hours on Tuesday, hitting $189.70. The stock had a trading volume of 1,580,632 shares, compared to its average volume of 1,574,651. The company has a market cap of $33.83 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.06 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The company has a 50-day moving average of $198.09 and a two-hundred day moving average of $190.46.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.68 earnings per share. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 18.63 EPS for the current fiscal year.

About Diamondback Energy

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.