Gradient Investments LLC Increases Position in Diamondback Energy Inc (FANG)

Gradient Investments LLC increased its stake in Diamondback Energy Inc (NASDAQ:FANG) by 24.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,876 shares of the oil and natural gas company’s stock after acquiring an additional 2,339 shares during the period. Gradient Investments LLC’s holdings in Diamondback Energy were worth $1,606,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Investec Asset Management LTD purchased a new position in Diamondback Energy in the second quarter worth $8,378,000. Hartline Investment Corp grew its position in Diamondback Energy by 28.0% in the second quarter. Hartline Investment Corp now owns 19,329 shares of the oil and natural gas company’s stock worth $2,543,000 after acquiring an additional 4,233 shares in the last quarter. Van ECK Associates Corp grew its position in Diamondback Energy by 1.9% in the second quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock worth $209,737,000 after acquiring an additional 29,280 shares in the last quarter. Cozad Asset Management Inc. purchased a new position in Diamondback Energy in the second quarter worth $3,949,000. Finally, Marietta Investment Partners LLC grew its position in Diamondback Energy by 1.0% in the second quarter. Marietta Investment Partners LLC now owns 64,307 shares of the oil and natural gas company’s stock worth $8,461,000 after acquiring an additional 618 shares in the last quarter.

Several brokerages recently issued reports on FANG. Raymond James reiterated a “buy” rating and issued a $166.00 target price on shares of Diamondback Energy in a research report on Monday, August 13th. BMO Capital Markets reiterated a “hold” rating and issued a $135.00 target price on shares of Diamondback Energy in a research report on Friday, August 17th. ValuEngine lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley set a $171.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Friday. Finally, Capital One Financial restated an “overweight” rating on shares of Diamondback Energy in a research report on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $154.83.

Shares of NASDAQ:FANG opened at $126.12 on Friday. The stock has a market cap of $13.33 billion, a PE ratio of 23.72, a PEG ratio of 0.81 and a beta of 0.59. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33. Diamondback Energy Inc has a 12 month low of $98.57 and a 12 month high of $140.78.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.05). The firm had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The business’s revenue was up 95.4% on a year-over-year basis. During the same period last year, the company posted $1.25 earnings per share. On average, equities analysts anticipate that Diamondback Energy Inc will post 6.37 earnings per share for the current year.

In other news, VP Russell Pantermuehl sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the transaction, the vice president now directly owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael L. Hollis sold 5,000 shares of the company’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,140 shares of company stock valued at $916,735. Insiders own 0.57% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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