Adams Natural Resources Fund Inc. bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 74,900 shares of the oil and natural gas company’s stock, valued at approximately $6,652,000. Diamondback Energy accounts for about 1.1% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 24th largest position. Adams Natural Resources Fund Inc. owned approximately 0.08% of Diamondback Energy as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in Diamondback Energy during the first quarter valued at about $180,000. Quantitative Systematic Strategies LLC purchased a new position in Diamondback Energy during the first quarter valued at about $231,000. CWM LLC boosted its position in Diamondback Energy by 6.9% in the first quarter. CWM LLC now owns 12,911 shares of the oil and natural gas company’s stock valued at $1,339,000 after buying an additional 829 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Diamondback Energy by 24.8% in the first quarter. Gulf International Bank UK Ltd now owns 28,675 shares of the oil and natural gas company’s stock valued at $2,974,000 after buying an additional 5,700 shares in the last quarter. Finally, Creative Planning boosted its position in Diamondback Energy by 778.0% in the first quarter. Creative Planning now owns 11,712 shares of the oil and natural gas company’s stock valued at $1,215,000 after buying an additional 10,378 shares in the last quarter. 97.20% of the stock is owned by institutional investors and hedge funds.
Shares of Diamondback Energy, Inc. (FANG) traded up 0.88% during trading on Friday, hitting $92.87. 1,182,586 shares of the stock traded hands. Diamondback Energy, Inc. has a 1-year low of $82.77 and a 1-year high of $114.00. The company has a 50 day moving average of $91.49 and a 200-day moving average of $98.25. The company has a market cap of $9.11 billion, a PE ratio of 25.53 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm’s quarterly revenue was up 137.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, equities analysts anticipate that Diamondback Energy, Inc. will post $4.88 EPS for the current fiscal year.
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Several brokerages have weighed in on FANG. Barclays PLC restated an “equal weight” rating and set a $110.00 target price (down from $123.00) on shares of Diamondback Energy in a research report on Saturday, April 22nd. Scotiabank reiterated a “buy” rating and issued a $121.00 price target on shares of Diamondback Energy in a research report on Thursday, May 4th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $141.00 price target on shares of Diamondback Energy in a research report on Thursday, May 25th. Stifel Nicolaus reissued a “buy” rating on shares of Diamondback Energy in a research note on Friday, May 26th. Finally, BMO Capital Markets set a $120.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have issued a buy rating to the company. Diamondback Energy presently has an average rating of “Buy” and a consensus price target of $115.92.
In other news, Director Steven E. West purchased 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the transaction, the director now directly owns 2,400 shares of the company’s stock, valued at approximately $248,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.
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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