On April 18, 2023 at 09:39:12 ET an unusually large $380.00K block of Put contracts in Diamondback Energy (FANG) was sold, with a strike price of $140.00 / share, expiring in 31 day(s) (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.29 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in FANG options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1934 funds or institutions reporting positions in Diamondback Energy. This is an increase of 81 owner(s) or 4.37% in the last quarter. Average portfolio weight of all funds dedicated to FANG is 0.40%, a decrease of 0.69%. Total shares owned by institutions increased in the last three months by 1.00% to 189,564K shares. The put/call ratio of FANG is 1.18, indicating a bearish outlook.

Analyst Price Forecast Suggests 21.80% Upside

As of April 6, 2023, the average one-year price target for Diamondback Energy is $176.12. The forecasts range from a low of $136.35 to a high of $227.85. The average price target represents an increase of 21.80% from its latest reported closing price of $144.60.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Diamondback Energy is $9,751MM, an increase of 7.35%. The projected annual non-GAAP EPS is $25.68.

What are Other Shareholders Doing?

TRPL – Pacer Metaurus US Large Cap Dividend Multiplier 300 ETF holds 0K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing a decrease of 12.50%. The firm decreased its portfolio allocation in FANG by 20.58% over the last quarter.

MNECX – Pro-Blend(R) Extended Term Series Class L holds 0K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing a decrease of 9.93%. The firm decreased its portfolio allocation in FANG by 19.27% over the last quarter.

TRANSAMERICA SERIES TRUST – Transamerica JPMorgan Mid Cap Value VP Initial holds 20K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 29K shares, representing a decrease of 43.36%. The firm decreased its portfolio allocation in FANG by 27.24% over the last quarter.

GSPY – Gotham Enhanced 500 ETF holds 4K shares representing 0.00% ownership of the company. No change in the last quarter.

Thompson Siegel & Walmsley holds 230K shares representing 0.13% ownership of the company. In it’s prior filing, the firm reported owning 238K shares, representing a decrease of 3.75%. The firm decreased its portfolio allocation in FANG by 99.90% over the last quarter.

Diamondback Energy Background Information
(This description is provided by the company.)

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas.

See all Diamondback Energy regulatory filings.

This article originally appeared on Fintel

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