Russell Investments Group Ltd. increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,384 shares of the oil and natural gas company’s stock after buying an additional 1,550 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Diamondback Energy worth $6,476,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Northeast Investment Management boosted its position in Diamondback Energy by 55.0% in the first quarter. Northeast Investment Management now owns 41,392 shares of the oil and natural gas company’s stock worth $4,293,000 after buying an additional 14,695 shares during the last quarter. Strs Ohio boosted its position in Diamondback Energy by 2.0% in the first quarter. Strs Ohio now owns 215,429 shares of the oil and natural gas company’s stock worth $22,343,000 after buying an additional 4,299 shares during the last quarter. Shell Asset Management Co. boosted its position in Diamondback Energy by 8.0% in the first quarter. Shell Asset Management Co. now owns 5,898 shares of the oil and natural gas company’s stock worth $612,000 after buying an additional 435 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Diamondback Energy during the first quarter worth about $601,000. Finally, Park Avenue Securities LLC acquired a new position in Diamondback Energy during the first quarter worth about $224,000. 98.30% of the stock is currently owned by hedge funds and other institutional investors.
Diamondback Energy, Inc. (FANG) traded up 1.20% during mid-day trading on Monday, reaching $85.89. The company had a trading volume of 1,056,077 shares. The firm’s 50 day moving average price is $96.52 and its 200-day moving average price is $101.71. Diamondback Energy, Inc. has a 12 month low of $82.80 and a 12 month high of $114.00. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 1827.45 and a beta of 1.04.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.61 by $0.43. Diamondback Energy had a net margin of 0.62% and a return on equity of 6.51%. The business had revenue of $235.23 million for the quarter, compared to analysts’ expectations of $218.62 million. Equities research analysts anticipate that Diamondback Energy, Inc. will post $4.63 earnings per share for the current year.
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A number of equities analysts recently issued reports on FANG shares. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a report on Monday, February 20th. TheStreet upgraded Diamondback Energy from a “c” rating to a “b-” rating in a report on Friday, March 3rd. Scotiabank reiterated a “buy” rating and issued a $121.00 target price on shares of Diamondback Energy in a report on Monday, March 27th. Stifel Nicolaus assumed coverage on Diamondback Energy in a report on Wednesday, April 12th. They issued a “buy” rating and a $123.00 target price for the company. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $110.00 target price (down from $123.00) on shares of Diamondback Energy in a report on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Diamondback Energy presently has an average rating of “Buy” and an average target price of $118.43.
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven E. West bought 2,400 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the acquisition, the director now directly owns 2,400 shares of the company’s stock, valued at $248,280. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.
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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