Loomis Sayles & Co. L P lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,219 shares of the oil and natural gas company’s stock after selling 1,106 shares during the period. Loomis Sayles & Co. L P owned about 0.06% of Diamondback Energy worth $6,038,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock valued at $100,000 after buying an additional 201 shares in the last quarter. Winch Advisory Services LLC bought a new stake in Diamondback Energy during the first quarter valued at about $105,000. State of Alaska Department of Revenue bought a new stake in Diamondback Energy during the first quarter valued at about $180,000. Stevens Capital Management LP bought a new stake in Diamondback Energy during the first quarter valued at about $201,000. Finally, Teza Capital Management LLC bought a new stake in Diamondback Energy during the first quarter valued at about $202,000. 98.30% of the stock is owned by institutional investors and hedge funds.
Shares of Diamondback Energy, Inc. (NASDAQ:FANG) traded down 1.13% during midday trading on Tuesday, reaching $84.92. The company’s stock had a trading volume of 703,288 shares. The stock’s 50 day moving average price is $96.13 and its 200 day moving average price is $101.53. Diamondback Energy, Inc. has a one year low of $82.80 and a one year high of $114.00. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 1806.81 and a beta of 1.04.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.43. The business had revenue of $235.23 million for the quarter, compared to analysts’ expectations of $218.62 million. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%. Analysts predict that Diamondback Energy, Inc. will post $4.63 earnings per share for the current year.
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Several analysts have issued reports on the company. TheStreet raised Diamondback Energy from a “c” rating to a “b-” rating in a report on Friday, March 3rd. Roth Capital set a $130.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Scotiabank reaffirmed a “buy” rating and issued a $121.00 price objective on shares of Diamondback Energy in a research note on Monday, March 27th. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research note on Wednesday, March 1st. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $110.00 price objective (down previously from $123.00) on shares of Diamondback Energy in a research note on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $118.43.
In other news, Director Mark Lawrence Plaumann sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $101.52, for a total transaction of $101,520.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven E. West bought 2,400 shares of the stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the acquisition, the director now owns 2,400 shares in the company, valued at $248,280. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.
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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