Financial Counselors Inc. lowered its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 50.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,197 shares of the oil and natural gas company’s stock after selling 7,209 shares during the period. Financial Counselors Inc.’s holdings in Diamondback Energy were worth $973,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of FANG. BlueMountain Capital Management LLC bought a new stake in Diamondback Energy during the second quarter worth about $64,179,000. Bank of America Corp DE boosted its stake in Diamondback Energy by 40.4% during the second quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock worth $121,835,000 after acquiring an additional 266,321 shares in the last quarter. Janus Henderson Group PLC boosted its stake in 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 acquiring an additional 154,900 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Diamondback Energy by 82.6% during the second quarter. CIBC Private Wealth Group LLC now owns 310,981 shares of the oil and natural gas company’s stock worth $40,916,000 after acquiring an additional 140,653 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. boosted its stake in Diamondback Energy by 3,280.0% during the third quarter. Waratah Capital Advisors Ltd. now owns 127,493 shares of the oil and natural gas company’s stock worth $17,236,000 after acquiring an additional 123,721 shares in the last quarter.
FANG opened at $114.32 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.54 and a quick ratio of 0.52. Diamondback Energy Inc has a twelve month low of $105.66 and a twelve month high of $140.78. The company has a market cap of $11.09 billion, a PE ratio of 21.57, a P/E/G ratio of 0.71 and a beta of 0.70.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.05). Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The company had revenue of $526.30 million for the quarter, compared to analysts’ expectations of $479.57 million. During the same period in the previous year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 95.4% on a year-over-year basis. As a group, research analysts predict that Diamondback Energy Inc will post 6.44 EPS for the current fiscal year.
In other news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The shares were 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 $11,442,189.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.
FANG has been the topic of several research reports. BidaskClub raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Susquehanna Bancshares initiated coverage on shares of Diamondback Energy in a research note on Wednesday, July 11th. They set a “positive” rating and a $164.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $163.00 to $176.00 and gave the stock an “overweight” rating in a research note on Thursday, July 12th. Jefferies Financial Group set a $181.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Friday, July 13th. Finally, Stifel Nicolaus set a $166.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday, July 19th. Four analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $156.31.
Diamondback Energy Profile
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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