Gradient Investments LLC raised its position in Diamondback Energy Inc (NASDAQ:FANG) by 123.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,242 shares of the oil and natural gas company’s stock after purchasing an additional 11,192 shares during the quarter. Gradient Investments LLC’s holdings in Diamondback Energy were worth $2,206,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in FANG. Delek Group Ltd. increased its stake in Diamondback Energy by 13.9% during the 1st quarter. Delek Group Ltd. now owns 221,860 shares of the oil and natural gas company’s stock worth $22,414,000 after buying an additional 27,060 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Diamondback Energy by 3.4% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 126,008 shares of the oil and natural gas company’s stock worth $12,794,000 after buying an additional 4,146 shares during the period. Trexquant Investment LP purchased a new stake in Diamondback Energy during the 1st quarter worth approximately $4,545,000. Alphasimplex Group LLC purchased a new stake in Diamondback Energy during the 1st quarter worth approximately $1,031,000. Finally, Scout Investments Inc. increased its stake in Diamondback Energy by 7.6% during the 2nd quarter. Scout Investments Inc. now owns 208,270 shares of the oil and natural gas company’s stock worth $22,695,000 after buying an additional 14,703 shares during the period. 99.12% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total value of $536,400.00. Following the completion of the transaction, the vice president now owns 112,107 shares in the company, valued at approximately $12,026,838.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total transaction of $161,205.00. Following the completion of the transaction, the chief financial officer now owns 27,465 shares of the company’s stock, valued at approximately $2,951,663.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,500 shares of company stock valued at $1,258,505. Company insiders own 0.47% of the company’s stock.
Shares of NASDAQ:FANG traded down $0.90 during trading hours on Friday, reaching $100.50. The stock had a trading volume of 181,827 shares, compared to its average volume of 1,115,657. Diamondback Energy Inc has a 1 year low of $85.19 and a 1 year high of $140.78. The business’s 50 day moving average is $104.84. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.32. The stock has a market cap of $17.20 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 0.66 and a beta of 0.85.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The business had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $893.16 million. During the same quarter in the prior year, the business posted $1.64 EPS. The company’s revenue for the quarter was up 80.4% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy Inc will post 7.68 earnings per share for the current fiscal year.
Several brokerages recently weighed in on FANG. Williams Capital set a $165.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley set a $207.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $2.50 target price on shares of in a research note on Thursday, July 18th. Credit Suisse Group set a €21.78 ($25.33) target price on shares of Deutsche Lufthansa and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $158.71.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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