Diamondback Energy Inc (NASDAQ:FANG) was the target of a large increase in short interest in September. As of September 28th, there was short interest totalling 11,324,025 shares, an increase of 32.8% from the September 14th total of 8,525,801 shares. Approximately 11.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,845,642 shares, the short-interest ratio is currently 6.1 days.
A number of equities analysts have recently issued reports on FANG shares. SunTrust Banks reissued a “buy” rating and set a $170.00 target price on shares of Diamondback Energy in a research note on Friday, August 10th. Morgan Stanley set a $171.00 price target on Diamondback Energy and gave the stock a “buy” rating in a report on Friday. Williams Capital upgraded Diamondback Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $165.00 to $167.00 in a report on Monday, August 20th. Capital One Financial restated an “overweight” rating on shares of Diamondback Energy in a report on Wednesday, August 8th. Finally, BidaskClub upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Four investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $154.83.
Shares of NASDAQ:FANG opened at $126.12 on Friday. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 0.81 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54. Diamondback Energy has a one year low of $98.57 and a one year high of $140.78.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The company had revenue of $526.30 million for the quarter, compared to analyst estimates of $479.57 million. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. Diamondback Energy’s quarterly revenue was up 95.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. As a group, equities research analysts forecast that Diamondback Energy will post 6.37 earnings per share for the current year.
In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the transaction, the vice president now directly owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael L. Hollis sold 5,000 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $128.85, for a total value of $644,250.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,140 shares of company stock valued at $916,735. Company insiders own 0.57% of the company’s stock.
A number of large investors have recently made changes to their positions in FANG. BlueMountain Capital Management LLC acquired a new stake in Diamondback Energy during the 2nd quarter valued at $64,179,000. Legal & General Group Plc grew its holdings in Diamondback Energy by 206.8% during the 1st quarter. Legal & General Group Plc now owns 401,479 shares of the oil and natural gas company’s stock valued at $50,795,000 after buying an additional 270,607 shares during the last quarter. Bank of America Corp DE grew its holdings in Diamondback Energy by 40.4% during the 2nd quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock valued at $121,835,000 after buying an additional 266,321 shares during the last quarter. Atlantic Trust Group LLC grew its holdings in Diamondback Energy by 2,457.5% during the 1st quarter. Atlantic Trust Group LLC now owns 170,328 shares of the oil and natural gas company’s stock valued at $21,550,000 after buying an additional 163,668 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Diamondback Energy by 292.4% during the second quarter. Janus Henderson Group PLC now owns 207,873 shares of the oil and natural gas company’s stock worth $27,350,000 after purchasing an additional 154,900 shares during the last quarter.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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