L & S Advisors Inc purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 30,462 shares of the oil and natural gas company’s stock, valued at approximately $3,159,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Boston Partners raised its stake in shares of Diamondback Energy by 8.4% in the third quarter. Boston Partners now owns 7,736,867 shares of the oil and natural gas company’s stock worth $746,917,000 after buying an additional 598,307 shares during the last quarter. Beach Point Capital Management LP purchased a new position in shares of Diamondback Energy during the third quarter worth approximately $817,000. KCG Holdings Inc. purchased a new position in shares of Diamondback Energy during the third quarter worth approximately $714,000. LNZ Capital LP purchased a new position in shares of Diamondback Energy during the third quarter worth approximately $50,751,000. Finally, Rainier Investment Management LLC purchased a new position in shares of Diamondback Energy during the third quarter worth approximately $10,290,000. 98.30% of the stock is currently owned by institutional investors.
Diamondback Energy, Inc. (NASDAQ:FANG) traded down 0.75% on Tuesday, reaching $85.25. 652,561 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $96.13 and a 200-day moving average of $101.53. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 1813.83 and a beta of 1.04. Diamondback Energy, Inc. has a 12 month low of $82.80 and a 12 month high of $114.00.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.43. The business had revenue of $235.23 million during the quarter, compared to the consensus estimate of $218.62 million. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%. On average, equities analysts expect that Diamondback Energy, Inc. will post $4.63 earnings per share for the current year.
Several equities research analysts have recently weighed in on FANG shares. BMO Capital Markets set a $120.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Scotiabank reissued a “buy” rating and set a $121.00 price target on shares of Diamondback Energy in a report on Monday, March 27th. Piper Jaffray Companies reissued an “overweight” rating and set a $141.00 price target on shares of Diamondback Energy in a report on Thursday, May 25th. Wolfe Research assumed coverage on shares of Diamondback Energy in a report on Thursday, June 15th. They issued an “outperform” rating and a $120.00 target price for the company. Finally, Zacks Investment Research cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Monday, March 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company. Diamondback Energy presently has an average rating of “Buy” and an average target price of $118.43.
In other Diamondback Energy news, Director Steven E. West purchased 2,400 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the acquisition, the director now owns 2,400 shares of the company’s stock, valued at $248,280. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $101.52, for a total value of $101,520.00. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
Diamondback Energy Company 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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