Sentry Investment Management LLC Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Sentry Investment Management LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,188 shares of the oil and natural gas company’s stock after purchasing an additional 88 shares during the period. Sentry Investment Management LLC’s holdings in Diamondback Energy were worth $550,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Diamondback Energy by 178.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after buying an additional 19,552 shares during the last quarter. Cullen Investment Group LTD. grew its position in shares of Diamondback Energy by 33.5% during the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after acquiring an additional 3,008 shares during the period. ORG Partners LLC increased its stake in shares of Diamondback Energy by 2,768.9% during the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after purchasing an additional 4,181 shares during the last quarter. Homestead Advisers Corp purchased a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $87,940,000. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $5,148,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $179.76 on Tuesday. The firm has a 50 day simple moving average of $182.94 and a two-hundred day simple moving average of $192.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market cap of $52.98 billion, a PE ratio of 9.29, a P/E/G ratio of 1.23 and a beta of 1.89. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the firm earned $3.68 earnings per share. The firm’s revenue was up 29.4% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler increased their price objective on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective for the company. Bank of America upped their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, Citigroup assumed coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.