Sunday, June 26, 2022

Selling Buzz: Diamondback Energy Inc. [FANG] President & CFO Van’t Hof Matthew Kaes sells 6,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Diamondback Energy Inc. shares valued at $960,000 were sold by Van’t Hof Matthew Kaes on Jun 07. At $160.00 per share, Van’t Hof Matthew Kaes sold 6,000 shares. The insider’s holdings dropped to 61,334 shares worth approximately $7.73 million following the completion of this transaction.

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Also, Stice Travis D. sold 30,000 shares, netting a total of over 4,500,303 in proceeds. Following the sale of shares at $150.01 each, the insider now holds 428,497 shares.

Before that, Dick Teresa L. had sold 2,500 shares from its account. In a trade valued at $380,544, the CAO, Exec. VP, Assist. Sec. traded Diamondback Energy Inc. shares for $152.22 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $7.23 million.

As published in a research note from Barclays on May 25, 2022, Diamondback Energy Inc. [FANG] has been rated up from an Equal weight to an Overweight and the price target has been revised to $160 from $162. This represents a 21.19% premium over Wednesday’s closing price. Analysts at Scotiabank upgraded the stock from ‘”a Sector perform”‘ to ‘”a Sector outperform”‘ outlook in a report released in early March. As of March 08, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for FANG. Earlier on November 17, 2021, Scotiabank downgraded its rating. Their new recommendation was “a Sector perform” for FANG stock which previously was a “a Sector outperform”.

Analyzing FANG’s Price Performance

On Wednesday, Diamondback Energy Inc. [NASDAQ: FANG] plunged -4.67% to $126.10. The stock’s lowest price that day was $122.31, but it reached a high of $129.01 in the same session. During the last five days, there has been a drop of approximately -15.73%. Over the course of the year, Diamondback Energy Inc. shares have jumped approximately 19.08%. Shares of the company reached a 52-week high of $162.24 on 06/08/22 and a 52-week low of $107.55 on 01/03/22. A 50-day SMA is recorded $138.65, while a 200-day SMA reached $121.27. Nevertheless, trading volume fell to 4.88 million shares from 4.85 million shares the previous day.

Support And Resistance Levels for Diamondback Energy Inc. (FANG)

According to the 24-hour chart, there is a support level at 122.60, which, if violated, would cause prices to drop to 119.11. In the upper region, resistance lies at 129.30. The next price resistance is at 132.51. RSI (Relative Strength Index) is 37.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -20.03, which suggests the price will decrease in the coming days. Percent R is at 84.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Diamondback Energy Inc. subject to short interest?

Stocks of Diamondback Energy Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.5 million shares to 5.94 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 5.44 million shares. A jump of 8.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.12.

Which companies own the most shares of Diamondback Energy Inc. (FANG)?

According to The Vanguard Group, Inc. filings, the company currently owns 19,733,728 shares, which is about 11.12% of the total FANG shares outstanding. The investor’s shares have plunged by -224,432 from its previous 13-F filing of 19958160.0 shares. With the completion of the buy, SSgA Funds Management, Inc.’s stake is now worth $1,713,362,541. BlackRock Fund Advisors acquire a 2.24% interest valued at $1.52 billion while JPMorgan Investment Management, I purchased a 805,485 stake. A total of 2,324,278 shares of Diamondback Energy Inc. were bought by Fidelity Management & Research Co during the quarter, and -648,674 were sold by Boston Partners Global Investors,. In its current portfolio, Geode Capital Management LLC holds 3,576,190 shares valued at $543.65 million.

In terms of Diamondback Energy Inc. share price expectations, FactSet research, analysts set an average price target of $183.57 in the next 12 months, up nearly 36.07% from the previous closing price of $132.28. Analysts anticipate Diamondback Energy Inc. stock to reach $236.00 by 2022, with the lowest price target being $150.00. In spite of this, 32 analysts ranked Diamondback Energy Inc. stock as a Buy at the end of 2022. On June 08, 2021, Johnson Rice assigned a price target of “a Accumulate” to the stock and upgraded coverage with a $114.

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