Aperio Group LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 33.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,391 shares of the oil and natural gas company’s stock after buying an additional 7,111 shares during the period. Aperio Group LLC’s holdings in Diamondback Energy were worth $2,521,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Diamondback Energy by 5,554.4% in the first quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock valued at $488,205,000 after buying an additional 4,623,946 shares in the last quarter. Warburg Pincus LLC bought a new position in shares of Diamondback Energy during the first quarter valued at $291,598,000. FMR LLC boosted its position in shares of Diamondback Energy by 17.0% in the first quarter. FMR LLC now owns 11,423,256 shares of the oil and natural gas company’s stock valued at $1,184,763,000 after buying an additional 1,661,551 shares in the last quarter. Steadfast Capital Management LP bought a new position in shares of Diamondback Energy during the first quarter valued at $62,678,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Diamondback Energy by 8.1% in the first quarter. JPMorgan Chase & Co. now owns 6,354,921 shares of the oil and natural gas company’s stock valued at $659,101,000 after buying an additional 477,648 shares in the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.
Shares of Diamondback Energy, Inc. (FANG) traded down 1.17% during mid-day trading on Monday, reaching $94.10. The company’s stock had a trading volume of 476,022 shares. Diamondback Energy, Inc. has a 1-year low of $82.77 and a 1-year high of $114.00. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 2002.13 and a beta of 1.06. The firm’s 50 day moving average price is $89.98 and its 200-day moving average price is $98.63.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The business had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. During the same quarter last year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 137.7% compared to the same quarter last year. On average, analysts predict that Diamondback Energy, Inc. will post $4.37 EPS for the current year.
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FANG has been the topic of several recent research reports. Barclays PLC restated an “equal weight” rating and set a $110.00 target price (down from $123.00) on shares of Diamondback Energy in a report on Saturday, April 22nd. Stifel Nicolaus initiated coverage on Diamondback Energy in a report on Wednesday, April 12th. They set a “buy” rating and a $123.00 target price on the stock. Roth Capital set a $130.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, May 2nd. BMO Capital Markets set a $120.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Finally, BidaskClub cut Diamondback Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $115.31.
In related news, Director Mark Lawrence Plaumann sold 1,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total transaction of $101,520.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven E. West purchased 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the purchase, the director now directly owns 2,400 shares in the company, valued at $248,280. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.
Diamondback Energy Company 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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