King Luther Capital Management Corp increased its position in Diamondback Energy Inc (NASDAQ:FANG) by 88.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,724 shares of the oil and natural gas company’s stock after buying an additional 43,034 shares during the period. King Luther Capital Management Corp owned about 0.09% of Diamondback Energy worth $8,985,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new position in shares of Diamondback Energy in the second quarter valued at approximately $102,000. Cubist Systematic Strategies LLC raised its position in shares of Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after buying an additional 700 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Diamondback Energy in the third quarter valued at approximately $206,000. Commerce Bank acquired a new position in shares of Diamondback Energy in the third quarter valued at approximately $208,000. Finally, Sentry Investment Management LLC acquired a new position in shares of Diamondback Energy in the second quarter valued at approximately $215,000.
A number of equities analysts have recently weighed in on FANG shares. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research report on Monday, October 9th. KeyCorp reaffirmed an “overweight” rating and set a $125.00 price target (up previously from $117.00) on shares of Diamondback Energy in a research report on Tuesday, November 7th. US Capital Advisors reaffirmed a “buy” rating on shares of Diamondback Energy in a research report on Monday, October 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $112.00 price target on shares of Diamondback Energy in a research report on Thursday, September 14th. Finally, Goldman Sachs Group lowered shares of Diamondback Energy from a “conviction-buy” rating to a “buy” rating and upped their price target for the stock from $106.53 to $118.00 in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $126.88.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The company had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The business’s quarterly revenue was up 112.0% compared to the same quarter last year. research analysts forecast that Diamondback Energy Inc will post 5.02 EPS for the current fiscal year.
In other news, VP Paul Molnar sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total value of $475,200.00. Following the completion of the transaction, the vice president now directly owns 42,563 shares in the company, valued at $4,045,187.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael L. Hollis sold 1,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $2,597,690 in the last three months. Company insiders own 0.41% of the company’s stock.
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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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