1,473 Shares in Diamondback Energy, Inc. $FANG Purchased by Savvy Advisors Inc.

Savvy Advisors Inc. bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, Holdings Channel reports. The fund bought 1,473 shares of the oil and natural gas company’s stock, valued at approximately $202,000.

Other large investors have also recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Diamondback Energy by 4.8% in the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after acquiring an additional 249,098 shares during the period. Bank of New York Mellon Corp lifted its position in Diamondback Energy by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock worth $680,649,000 after purchasing an additional 94,177 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Diamondback Energy by 4.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock worth $468,846,000 after purchasing an additional 114,930 shares during the period. Wellington Management Group LLP boosted its stake in Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after purchasing an additional 418,431 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Diamondback Energy during the 1st quarter valued at $230,039,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.7%

NASDAQ FANG opened at $143.16 on Monday. The firm’s 50 day moving average price is $142.95 and its two-hundred day moving average price is $141.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $186.07. The stock has a market cap of $41.44 billion, a price-to-earnings ratio of 10.17 and a beta of 0.99.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business’s quarterly revenue was up 48.1% on a year-over-year basis. During the same period last year, the business earned $4.52 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FANG. William Blair began coverage on Diamondback Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. KeyCorp cut their price target on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Mizuho reduced their price objective on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Melius began coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. Finally, UBS Group increased their target price on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average price target of $189.67.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.