TD Asset Management Inc. grew its position in Diamondback Energy Inc (NASDAQ:FANG) by 41.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,687 shares of the oil and natural gas company’s stock after acquiring an additional 11,669 shares during the period. TD Asset Management Inc.’s holdings in Diamondback Energy were worth $3,888,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY raised its stake in Diamondback Energy by 15.6% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 3,468 shares of the oil and natural gas company’s stock worth $360,000 after purchasing an additional 467 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Diamondback Energy by 1.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 18,387 shares of the oil and natural gas company’s stock valued at $1,633,000 after buying an additional 229 shares during the period. Janney Montgomery Scott LLC increased its holdings in Diamondback Energy by 33.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 7,740 shares of the oil and natural gas company’s stock valued at $687,000 after buying an additional 1,949 shares during the period. Great West Life Assurance Co. Can increased its holdings in Diamondback Energy by 5.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 27,484 shares of the oil and natural gas company’s stock valued at $2,439,000 after buying an additional 1,492 shares during the period. Finally, Bessemer Group Inc. bought a new position in Diamondback Energy in the 2nd quarter valued at about $1,533,000.
Shares of Diamondback Energy Inc (NASDAQ:FANG) opened at $109.52 on Friday. Diamondback Energy Inc has a fifty-two week low of $82.77 and a fifty-two week high of $114.93. The stock has a market cap of $10,750.00, a PE ratio of 23.45, a PEG ratio of 0.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.31. The business had revenue of $301.30 million for the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. Diamondback Energy’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. research analysts predict that Diamondback Energy Inc will post 5.03 EPS for the current year.
In other Diamondback Energy news, VP Russell Pantermuehl sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total transaction of $387,560.00. Following the transaction, the vice president now directly owns 70,214 shares in the company, valued at $6,803,034.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Molnar sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total transaction of $475,200.00. Following the transaction, the vice president now owns 42,563 shares in the company, valued at $4,045,187.52. The disclosure for this sale can be found here. Insiders sold 32,400 shares of company stock worth $3,424,510 over the last ninety days. 0.41% of the stock is currently owned by insiders.
Several brokerages recently issued reports on FANG. KeyCorp reaffirmed 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. SunTrust Banks reissued a “buy” rating and set a $130.00 target price on shares of Diamondback Energy in a report on Friday, November 10th. Imperial Capital boosted their target price on shares of Diamondback Energy from $113.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Credit Suisse Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $123.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $125.56.
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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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