Baird Financial Group Inc. cut its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 26.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 407,256 shares of the oil and natural gas company’s stock after selling 147,883 shares during the period. Baird Financial Group Inc. owned 0.41% of Diamondback Energy worth $51,416,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc raised its holdings in Diamondback Energy by 42.6% in the 4th quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock valued at $164,000 after acquiring an additional 389 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Diamondback Energy by 476.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock valued at $178,000 after acquiring an additional 1,167 shares during the last quarter. KCS Wealth Advisory acquired a new position in Diamondback Energy in the 4th quarter valued at $202,000. Dearborn Partners LLC acquired a new position in Diamondback Energy in the 4th quarter valued at $208,000. Finally, Pinnacle Financial Partners Inc. acquired a new position in Diamondback Energy in the 4th quarter valued at $217,000.
Shares of Diamondback Energy Inc (NASDAQ FANG) opened at $123.88 on Monday. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22. Diamondback Energy Inc has a 12-month low of $82.77 and a 12-month high of $134.52. The firm has a market cap of $12,160.00, a price-to-earnings ratio of 25.03, a P/E/G ratio of 0.68 and a beta of 0.91.
A number of analysts have recently commented on FANG shares. KeyCorp restated an “overweight” rating and set a $125.00 price objective (up from $117.00) on shares of Diamondback Energy in a report on Tuesday, November 7th. Imperial Capital upped their price objective on Diamondback Energy from $113.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. SunTrust Banks restated a “buy” rating and set a $130.00 price objective on shares of Diamondback Energy in a report on Friday, November 10th. Finally, BMO Capital Markets set a $130.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 14th. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Diamondback Energy presently has an average rating of “Buy” and a consensus price target of $137.60.
In related news, insider Michael L. Hollis sold 10,000 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Russell Pantermuehl sold 1,400 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 60,814 shares of the company’s stock, valued at $6,756,435.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,400 shares of company stock valued at $8,337,200. 0.41% of the stock is owned by corporate 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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