L & S Advisors Inc bought a new position in shares of Diamondback Energy Inc (NASDAQ:FANG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 42,551 shares of the oil and natural gas company’s stock, valued at approximately $4,168,000.
Other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. purchased a new position in Diamondback Energy during the 2nd quarter worth $102,000. Cubist Systematic Strategies LLC grew its stake in Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after buying an additional 700 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Diamondback Energy during the 3rd quarter valued at about $206,000. Commerce Bank purchased a new stake in Diamondback Energy during the 3rd quarter valued at about $208,000. Finally, Sentry Investment Management LLC purchased a new stake in Diamondback Energy during the 2nd quarter valued at about $215,000.
In other Diamondback Energy news, VP Russell Pantermuehl sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $111.10, for a total transaction of $155,540.00. Following the completion of the sale, the vice president now directly owns 60,814 shares in the company, valued at approximately $6,756,435.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Paul Molnar sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the sale, the vice president now owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The disclosure for this sale can be found here. Insiders sold a total of 26,400 shares of company stock valued at $2,753,230 in the last ninety days. 0.41% of the stock is currently owned by insiders.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.31. The company had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. Diamondback Energy’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) EPS. analysts forecast that Diamondback Energy Inc will post 5.02 earnings per share for the current fiscal year.
FANG has been the topic of several research analyst reports. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Monday, October 9th. KeyCorp reiterated an “overweight” rating and set a $125.00 price target (up previously from $117.00) on shares of Diamondback Energy in a research note on Tuesday, November 7th. US Capital Advisors reiterated a “buy” rating on shares of Diamondback Energy in a research note on Monday, October 2nd. Goldman Sachs Group downgraded Diamondback Energy from a “conviction-buy” rating to a “buy” rating and boosted their price target for the company from $106.53 to $118.00 in a research note on Friday, November 17th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $112.00 price target on shares of Diamondback Energy in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $126.88.
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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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