2,139 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by KG&L Capital Management LLC

KG&L Capital Management LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 2,139 shares of the oil and natural gas company’s stock, valued at approximately $369,000.

Several other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after buying an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after buying an additional 415,902 shares in the last quarter. Boston Partners increased its holdings in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after buying an additional 247,065 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Diamondback Energy by 7.1% in the 2nd quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock worth $495,236,000 after buying an additional 164,732 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of a number of recent research reports. Scotiabank cut their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Sanford C. Bernstein cut their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Wolfe Research initiated coverage on Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Diamondback Energy Stock Up 2.2 %

NASDAQ FANG opened at $179.76 on Tuesday. The stock’s 50 day moving average is $182.94 and its 200 day moving average is $192.79. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The stock has a market cap of $52.98 billion, a PE ratio of 9.29, a P/E/G ratio of 1.24 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.68 EPS. Research analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Profile

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.