Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Diamondback Energy Inc (NASDAQ:FANG) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,307 shares of the oil and natural gas company’s stock after buying an additional 949 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Diamondback Energy were worth $3,851,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC lifted its stake in Diamondback Energy by 19.8% during the third quarter. Signature Estate & Investment Advisors LLC now owns 6,171 shares of the oil and natural gas company’s stock worth $605,000 after purchasing an additional 1,019 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Diamondback Energy by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 840,133 shares of the oil and natural gas company’s stock worth $82,300,000 after buying an additional 8,181 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Diamondback Energy by 8.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 62,699 shares of the oil and natural gas company’s stock worth $5,549,000 after buying an additional 5,066 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Diamondback Energy by 1.7% during the third quarter. Rhumbline Advisers now owns 102,897 shares of the oil and natural gas company’s stock worth $10,080,000 after buying an additional 1,702 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Diamondback Energy during the third quarter worth $261,000.
In related news, CFO Teresa L. Dick sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $111.79, for a total value of $558,950.00. Following the transaction, the chief financial officer now owns 31,760 shares of the company’s stock, valued at approximately $3,550,450.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Russell Pantermuehl sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total transaction of $387,560.00. Following the completion of the transaction, the vice president now directly owns 70,214 shares in the company, valued at approximately $6,803,034.46. The disclosure for this sale can be found here. Insiders have sold a total of 25,155 shares of company stock worth $2,611,913 in the last three months. Insiders own 0.41% of the company’s stock.
FANG has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a report on Monday, October 9th. US Capital Advisors reiterated a “buy” rating on shares of Diamondback Energy in a report on Monday, October 2nd. KeyCorp reiterated an “overweight” rating and set a $125.00 price target (up from $117.00) on shares of Diamondback Energy in a report on Tuesday, November 7th. Piper Jaffray Companies restated a “buy” rating and issued a $112.00 price objective on shares of Diamondback Energy in a report on Thursday, September 14th. Finally, Barclays increased their price objective on Diamondback Energy from $105.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $126.88.
Diamondback Energy Inc (NASDAQ:FANG) traded down $1.89 during mid-day trading on Monday, hitting $109.02. 642,983 shares of the stock were exchanged, compared to its average volume of 1,349,412. The company has a market cap of $10,700.00, a PE ratio of 23.75, a PEG ratio of 0.80 and a beta of 1.09. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. Diamondback Energy Inc has a one year low of $82.77 and a one year high of $114.93.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.31. The company had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The business’s revenue was up 112.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) EPS. research analysts forecast that Diamondback Energy Inc will post 5.02 EPS for the current year.
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Diamondback Energy Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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