FANG (Diamondback Energy Inc.) may reap gains as insiders became active recently

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Diamondback Energy Inc.’s recent filing unveils that its Exec. VP, Gen Counsel and Sec Zmigrosky Matt unloaded Company’s shares for reported $0.28 million on Dec 21. In the deal valued at $136.96 per share,2,012 shares were sold. As a result of this transaction, Zmigrosky Matt now holds 23,623 shares worth roughly $ 3.32 million.

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Then, Van’t Hof Matthew Kaes sold 6,000 shares, generating $960,000 in total proceeds. Upon selling the shares at $160.00, the President & CFO now owns 61,334 shares.

Before that, Stice Travis D. sold 30,000 shares. Diamondback Energy Inc. shares valued at $4,500,303 were divested by the Chief Executive Officer at a price of $150.01 per share. As a result of the transaction, Stice Travis D. now holds 428,497 shares, worth roughly $60.24 million.

Wells Fargo initiated its Diamondback Energy Inc. [FANG] rating to an Overweight in a research note published on Tuesday, January 25, 2023; the price target was $181. PT values the company’s stock at a premium of 22.33 to its Tuesday closing price. Johnson Rice also remained covering FANG and has increased its forecast on December 05, 2022 with a “Buy” recommendation from previously “Accumulate” rating. BofA Securities revised its rating on November 28, 2022. It rated FANG as “an Underperform” which previously was an “a Neutral”.

Price Performance Review of FANG

On Tuesday, Diamondback Energy Inc. [NASDAQ:FANG] saw its stock fall -2.62% to $140.58. On the same session, the stock had its day’s lowest price of $140.52, but rose to a high of $146.59. Over the last five days, the stock has gained 4.75%. Diamondback Energy Inc. shares have risen nearly 2.78% since the year began. Nevertheless, the stocks have risen 10.32% over the past one year. While a 52-week high of $167.42 was reached on 01/27/23, a 52-week low of $101.00 was recorded on 01/04/23. SMA at 50 days reached $141.16, while 200 days put it at $137.41. A total of 2.51 million shares were traded, compared to the trading of 2.2 million shares in the previous session.

Levels Of Support And Resistance For FANG Stock

The 24-hour chart illustrates a support level at 138.54, which if violated will result in even more drops to 136.49. On the upside, there is a resistance level at 144.61. A further resistance level may holdings at 148.63. The Relative Strength Index (RSI) on the 14-day chart is 47.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.23%. Stochastics %K at 52.44% indicates the stock is a holding.

How much short interest is there in Diamondback Energy Inc.?

A steep rise in short interest was recorded in Diamondback Energy Inc. stocks on Jan 30, 2023, dropping by -2.1 million shares to a total of 4.62 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 6.72 million shares. There was a decline of -45.45%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.88% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.38.

Diamondback Energy Inc. [FANG] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 20,711,793 shares, or roughly 11.27% of the outstanding FANG shares. In other words, the investor’s shares have fallen by -357,348 from its previous 13-F filing of 21069141.0. Additionally, SSgA Funds Management, Inc. increased 0.18% of its stake after which the total value it holdings stand at $1,686,889,792, while BlackRock Fund Advisors added 15.62% of its stake to hold $1.56 billion in the firm. Over the last quarter, Fidelity Management & Research Co purchased 557,372 shares of Diamondback Energy Inc., while Wellington Management Co. LLP bought 1,278,520 shares. At present, JPMorgan Investment Management, I is holding 4,190,487 shares valued at $612.31 million. Geode Capital Management LLC owned 3,740,520 shares of the company at the time of its most recent 13F filing, worth $546.56 million.

According to FactSet, Diamondback Energy Inc.’s share price will average $178.26 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.22 percent from its previous closing price of $144.36. Analysts expect Diamondback Energy Inc. stock to reach the higher price of $214.00, while the lowest price estimate is $135.00. However, 33 analysts have rated FANG stock as a Buy in their predictions for 2023. The most recent change occurred on October 19, 2022 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $159 price target.


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