Bank of Montreal Can decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,304 shares of the oil and natural gas company’s stock after selling 19,345 shares during the period. Bank of Montreal Can owned approximately 0.07% of Diamondback Energy worth $6,244,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Covenant Asset Management LLC raised its position in shares of Diamondback Energy by 2.8% in the second quarter. Covenant Asset Management LLC now owns 13,492 shares of the oil and natural gas company’s stock worth $1,198,000 after buying an additional 370 shares during the last quarter. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Diamondback Energy during the second quarter worth about $650,000. Xact Kapitalforvaltning AB raised its position in shares of Diamondback Energy by 22.0% in the second quarter. Xact Kapitalforvaltning AB now owns 7,774 shares of the oil and natural gas company’s stock worth $690,000 after buying an additional 1,403 shares during the last quarter. Copper Rock Capital Partners LLC raised its position in shares of Diamondback Energy by 328.3% in the second quarter. Copper Rock Capital Partners LLC now owns 3,713 shares of the oil and natural gas company’s stock worth $375,000 after buying an additional 2,846 shares during the last quarter. Finally, Triangle Securities Wealth Management bought a new position in shares of Diamondback Energy during the second quarter worth about $257,000. Institutional investors own 96.31% of the company’s stock.
Shares of Diamondback Energy, Inc. (NASDAQ FANG) traded up 0.20% during mid-day trading on Friday, reaching $86.27. 238,548 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $91.57 and its 200 day moving average price is $97.75. Diamondback Energy, Inc. has a 52-week low of $82.77 and a 52-week high of $114.00. The company has a market cap of $8.47 billion, a PE ratio of 23.72 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly 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. The business had revenue of $267.40 million during the quarter, compared to analyst estimates of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. Diamondback Energy’s quarterly revenue was up 137.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. On average, equities research analysts predict that Diamondback Energy, Inc. will post $4.89 EPS for the current year.
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A number of research firms recently weighed in on FANG. Scotiabank set a $95.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. Piper Jaffray Companies reissued an “overweight” rating and set a $141.00 price target on shares of Diamondback Energy in a research note on Thursday, May 25th. BMO Capital Markets set a $120.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Barclays PLC reaffirmed a “hold” rating and issued a $93.00 target price on shares of Diamondback Energy in a research note on Friday, July 7th. Finally, Bank of America Corporation assumed coverage on shares of Diamondback Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $115.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $117.00.
In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is owned by insiders.
About Diamondback Energy
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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