A company insider recently sold 6,000 shares of Diamondback Energy Inc. [FANG]. Should You Sale?

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 $7.76 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 $7.25 million.

As published in their initiating research note from KeyBanc Capital Markets on September 20, 2022, Diamondback Energy Inc. [FANG] has been an Overweight and the price target has been revised to $163. This represents a 22.37% premium over Thursday’s closing price. As of May 25, 2022, Barclays has increased its “an Equal weight” rating to a “an Overweight” for FANG. Earlier on March 08, 2022, Scotiabank upgraded its rating. Their new recommendation was “a Sector outperform” for FANG stock which previously was a “a Sector perform”.

Analyzing FANG’s Price Performance

On Thursday, Diamondback Energy Inc. [NASDAQ: FANG] plunged -1.75% to $126.54. The stock’s lowest price that day was $126.49, but it reached a high of $132.50 in the same session. During the last five days, there has been a drop of approximately -6.01%. Over the course of the year, Diamondback Energy Inc. shares have jumped approximately 21.59%. Shares of the company reached a 52-week high of $162.24 on 06/08/22 and a 52-week low of $103.71 on 07/14/22. A 50-day SMA is recorded $127.43, while a 200-day SMA reached $128.88. Nevertheless, trading volume fell to 1.57 million shares from 1.97 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 124.52, which, if violated, would cause prices to drop to 122.50. In the upper region, resistance lies at 130.53. The next price resistance is at 134.52. RSI (Relative Strength Index) is 42.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.38, which suggests the price will decrease in the coming days. Percent R is at 99.66%, 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 steep in short interest on Jul 14, 2022 dropping by -2.76 million shares to 6.56 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.32 million shares. A decline of -42.07% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.67 of the overall float, the days-to-cover ratio (short ratio) decline to 1.67.

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

According to The Vanguard Group, Inc. filings, the company currently owns 20,511,082 shares, which is about 11.53% of the total FANG shares outstanding. The investor’s shares have appreciated by 777,354 from its previous 13-F filing of 19733728.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $1,435,248,604. BlackRock Fund Advisors reduced a -7.34% interest valued at $1.23 billion while Fidelity Management & Research Co purchased a 819,096 stake. A total of -1,015,780 shares of Diamondback Energy Inc. were bought by JPMorgan Investment Management, I during the quarter, and -55,633 were sold by Geode Capital Management LLC. In its current portfolio, Boston Partners Global Investors, holds 3,337,527 shares valued at $444.83 million.


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