C M Bidwell & Associates Ltd. lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 74.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,000 shares of the oil and natural gas company’s stock after buying an additional 16,210 shares during the period. C M Bidwell & Associates Ltd.’s holdings in Diamondback Energy were worth $3,375,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FANG. Johnson Financial Group Inc. bought a new stake in Diamondback Energy during the second quarter worth $102,000. Cubist Systematic Strategies LLC lifted its stake in Diamondback Energy by 46.7% during the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after purchasing an additional 700 shares during the last quarter. BB&T Securities LLC bought a new stake in Diamondback Energy during the second quarter worth $217,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Diamondback Energy by 1.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock worth $224,000 after buying an additional 40 shares in the last quarter. Finally, American International Group Inc. increased its holdings in shares of Diamondback Energy by 5.8% during the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 98.59% of the company’s stock.
In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Russell Pantermuehl sold 4,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total transaction of $387,560.00. Following the sale, the vice president now owns 70,214 shares of the company’s stock, valued at $6,803,034.46. The disclosure for this sale can be found here. Insiders sold a total of 11,805 shares of company stock valued at $1,129,501 over the last quarter. 0.41% of the stock is owned by company insiders.
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Shares of Diamondback Energy, Inc. (NASDAQ FANG) traded down 0.71% on Tuesday, reaching $101.87. 194,487 shares of the company were exchanged. The firm’s 50 day moving average price is $95.40 and its 200 day moving average price is $95.09. Diamondback Energy, Inc. has a 52 week low of $82.77 and a 52 week high of $114.00. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 28.01 and a beta of 1.08.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.44. The company had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. Diamondback Energy’s revenue for the quarter was up 137.7% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. Equities research analysts anticipate that Diamondback Energy, Inc. will post $4.96 EPS for the current year.
A number of research firms recently weighed in on FANG. Northland Securities set a $125.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Monday, July 17th. Bank of America Corporation began coverage on Diamondback Energy in a report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price objective for the company. Scotiabank set a $95.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Saturday, July 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $100.00 price target on shares of Diamondback Energy in a research report on Tuesday, June 27th. Finally, Roth Capital upped their price target on shares of Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $121.65.
Diamondback Energy Company 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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