State Street Corp. Amends Diamondback Energy Stake Filing
Ticker: FANG · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 1539838
| Field | Detail |
|---|---|
| Company | Diamondback Energy, INC. (FANG) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still owns a big chunk of Diamondback Energy, good sign for stability.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 30, 2024, indicating its ownership of Diamondback Energy Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, but passive, stake in the oil and natural gas company. For investors, this means a large institutional holder maintains confidence in Diamondback Energy, which can be a positive signal for the stock's stability and long-term prospects.
Why It Matters
This filing shows that a major institutional investor, State Street Corporation, continues to hold a significant position in Diamondback Energy, signaling their ongoing confidence in the company.
Risk Assessment
Risk Level: low — This is a routine amendment by a passive institutional investor, indicating no immediate new risks or major changes in investment strategy.
Analyst Insight
An investor should view this as a routine update from a large institutional holder, suggesting no immediate need for action but reinforcing that Diamondback Energy is a company with significant institutional backing.
Key Numbers
- 0001539838 — Central Index Key (CIK) (Identifies Diamondback Energy, Inc. in SEC filings.)
- 0000093751 — Central Index Key (CIK) (Identifies State Street Corporation in SEC filings.)
- 20240130 — Filed As Of Date (The date the SC 13G/A was officially filed with the SEC.)
- 12/31/2023 — Date of Event (The date that triggered the requirement for this filing.)
- 005-87028 — SEC File Number (The SEC file number for Diamondback Energy, Inc.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Diamondback Energy, Inc. (company) — the subject company whose common stock is being reported
- 0000093751-24-000375 (dollar_amount) — accession number for the filing
- December 31, 2023 (date) — the date of the event requiring the filing
- 25278X109 (dollar_amount) — CUSIP number for Diamondback Energy Inc. common stock
Forward-Looking Statements
- State Street Corporation will maintain its passive investment in Diamondback Energy Inc. for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
- Diamondback Energy Inc.'s stock price will experience continued stability due to institutional confidence. (Diamondback Energy Inc.) — medium confidence, target: 06/30/2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amended Schedule 13G filing under the Securities Exchange Act of 1934, as stated in the 'FORM TYPE: SC 13G/A' and 'AMENDED FILING' sections.
Who is the reporting person in this filing?
The reporting person is STATE STREET CORPORATION, as clearly indicated under '1. NAME OF REPORTING PERSON: STATE STREET CORPORATION' on page 2 of 5.
What is the subject company whose securities are being reported?
The subject company is DIAMONDBACK ENERGY INC, as stated under 'NAME OF ISSUER: DIAMONDBACK ENERGY INC' and 'COMPANY CONFORMED NAME: Diamondback Energy, Inc.'.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was 12/31/2023, as specified under 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT: 12/31/2023'.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13D-1 (B), indicated by '(X) RULE 13D-1 (B)' in the 'CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED' section.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding Diamondback Energy, Inc. (FANG).