SG Americas Securities LLC lessened its stake in shares of Diamondback Energy Inc (NASDAQ:FANG) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,857 shares of the oil and natural gas company’s stock after selling 435 shares during the period. SG Americas Securities LLC’s holdings in Diamondback Energy were worth $376,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FANG. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Diamondback Energy by 13.2% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 4,300 shares of the oil and natural gas company’s stock worth $566,000 after buying an additional 500 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Diamondback Energy by 5.2% in the first quarter. Xact Kapitalforvaltning AB now owns 10,121 shares of the oil and natural gas company’s stock valued at $1,281,000 after purchasing an additional 504 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in shares of Diamondback Energy by 1.8% in the second quarter. Dana Investment Advisors Inc. now owns 32,945 shares of the oil and natural gas company’s stock valued at $4,335,000 after purchasing an additional 572 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of Diamondback Energy by 5.0% in the first quarter. Natixis Advisors L.P. now owns 13,034 shares of the oil and natural gas company’s stock valued at $1,649,000 after purchasing an additional 623 shares in the last quarter. Finally, Capital Investment Advisory Services LLC raised its stake in shares of Diamondback Energy by 23.2% in the second quarter. Capital Investment Advisory Services LLC now owns 3,590 shares of the oil and natural gas company’s stock valued at $472,000 after purchasing an additional 675 shares in the last quarter.
A number of brokerages recently commented on FANG. Oppenheimer assumed coverage on Diamondback Energy in a research note on Wednesday, October 3rd. They issued an “outperform” rating and a $166.00 target price for the company. BidaskClub upgraded Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 5th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Diamondback Energy in a research report on Friday, September 28th. TD Securities set a $175.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Saturday, August 11th. Finally, ValuEngine upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. Four analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $154.83.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.05). The company had revenue of $526.30 million during 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 firm’s revenue for the quarter was up 95.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Equities analysts anticipate that Diamondback Energy Inc will post 6.37 EPS for the current year.
In other news, insider Michael L. Hollis sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $128.85, for a total transaction of $644,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the sale, the vice president now directly owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,140 shares of company stock valued at $916,735. Corporate insiders own 0.57% of the company’s stock.
Diamondback Energy Company Profile
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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