Paloma Partners Management Co bought a new position in shares of Diamondback Energy Inc (NASDAQ:FANG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,775 shares of the oil and natural gas company’s stock, valued at approximately $603,000.
A number of other institutional investors and hedge funds have also made changes to their positions in FANG. Viking Global Investors LP purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $78,139,000. Carillon Tower Advisers Inc. purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $72,286,000. Franklin Resources Inc. increased its stake in Diamondback Energy by 76.1% during the 4th quarter. Franklin Resources Inc. now owns 765,062 shares of the oil and natural gas company’s stock worth $96,581,000 after buying an additional 330,652 shares during the period. Eagle Asset Management Inc. increased its stake in Diamondback Energy by 33.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,263,001 shares of the oil and natural gas company’s stock worth $126,300,000 after buying an additional 318,035 shares during the period. Finally, Ascend Capital LLC purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $38,957,000.
In other news, VP Randall J. Holder sold 7,120 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.15, for a total value of $883,948.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael L. Hollis sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total transaction of $388,020.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,431 shares of company stock valued at $21,476,852. Company insiders own 0.41% of the company’s stock.
Diamondback Energy Inc (NASDAQ:FANG) opened at $127.78 on Friday. Diamondback Energy Inc has a twelve month low of $82.77 and a twelve month high of $134.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.62 and a quick ratio of 0.61. The stock has a market cap of $12,779.42, a price-to-earnings ratio of 24.42, a PEG ratio of 0.73 and a beta of 0.91.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. The business had revenue of $399.19 million during the quarter, compared to analysts’ expectations of $370.74 million. sell-side analysts expect that Diamondback Energy Inc will post 6.89 earnings per share for the current year.
Several equities research analysts recently weighed in on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $118.00 target price on shares of Diamondback Energy in a research note on Friday, November 24th. Stephens reaffirmed a “buy” rating and set a $160.00 target price on shares of Diamondback Energy in a research note on Tuesday, February 6th. BidaskClub cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus set a $149.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, UBS initiated coverage on shares of Diamondback Energy in a report on Wednesday, March 7th. They set a “buy” rating and a $155.00 price target for the company. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Diamondback Energy has a consensus rating of “Buy” and a consensus price target of $140.92.
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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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