Baltimore Capital Management Inc. reduced its stake in Diamondback Energy Inc (NASDAQ:FANG) by 16.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,600 shares of the oil and natural gas company’s stock after selling 700 shares during the quarter. Baltimore Capital Management Inc.’s holdings in Diamondback Energy were worth $353,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new position in shares of Diamondback Energy during the second quarter worth approximately $102,000. Crossmark Global Holdings Inc. acquired a new position in shares of Diamondback Energy during the third quarter worth approximately $206,000. Commerce Bank acquired a new position in shares of Diamondback Energy during the third quarter worth approximately $208,000. Cubist Systematic Strategies LLC raised its stake in shares of Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new position in shares of Diamondback Energy in the third quarter valued at $237,000.
Shares of Diamondback Energy Inc (NASDAQ FANG) opened at $108.95 on Friday. The company has a market capitalization of $10,690.00, a PE ratio of 23.35, a PEG ratio of 0.79 and a beta of 1.09. 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 1 year low of $82.77 and a 1 year high of $114.93.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.31. The business had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. Diamondback Energy’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. research analysts forecast that Diamondback Energy Inc will post 5.02 EPS for the current year.
In other Diamondback Energy news, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the completion of the transaction, the vice president now directly owns 42,563 shares in the company, valued at $4,045,187.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Russell Pantermuehl sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $111.10, for a total value of $155,540.00. Following the completion of the transaction, the vice president now 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 90 days, insiders sold 26,400 shares of company stock valued at $2,753,230. Corporate insiders own 0.41% of the company’s stock.
A number of brokerages recently commented on FANG. Piper Jaffray Companies restated a “buy” rating and issued a $118.00 target price on shares of Diamondback Energy in a research note on Friday, November 24th. SunTrust Banks restated a “buy” rating and issued a $130.00 target price on shares of Diamondback Energy in a research note on Friday, November 10th. Stifel Nicolaus set a $129.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. BMO Capital Markets set a $110.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, August 12th. Finally, Goldman Sachs Group cut Diamondback Energy from a “conviction-buy” rating to a “buy” rating and upped their price target for the company from $106.53 to $118.00 in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the company. Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $126.88.
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Diamondback Energy 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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