Bessemer Group Inc. purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, Holdings Channel reports. The fund purchased 17,263 shares of the oil and natural gas company’s stock, valued at approximately $1,533,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock worth $100,000 after buying an additional 201 shares during the last quarter. Winch Advisory Services LLC acquired a new position in Diamondback Energy during the first quarter worth $105,000. State of Alaska Department of Revenue acquired a new position in Diamondback Energy during the first quarter worth $180,000. Stevens Capital Management LP acquired a new position in Diamondback Energy during the first quarter worth $201,000. Finally, Teza Capital Management LLC acquired a new position in Diamondback Energy during the first quarter worth $202,000. 97.20% of the stock is owned by institutional investors.
Shares of Diamondback Energy, Inc. (NASDAQ FANG) opened at 92.87 on Friday. The firm has a 50-day moving average price of $91.49 and a 200-day moving average price of $98.25. Diamondback Energy, Inc. has a one year low of $82.77 and a one year high of $114.00. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 25.53 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.44. The business 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%. The business’s revenue was up 137.7% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. Analysts anticipate that Diamondback Energy, Inc. will post $4.88 earnings per share for the current fiscal year.
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A number of equities analysts have commented on FANG shares. Wells Fargo & Company reissued an “outperform” rating and set a $110.00 target price (down previously from $125.00) on shares of Diamondback Energy in a report on Saturday, July 22nd. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Roth Capital set a $130.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, May 2nd. Bank of America Corporation started coverage on Diamondback Energy in a report on Wednesday, July 19th. They set a “buy” rating and a $115.00 target price for the company. Finally, BMO Capital Markets reissued a “buy” rating and set a $100.00 target price on shares of Diamondback Energy in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $115.92.
In related news, Director Steven E. West bought 2,400 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was bought at an average price of $103.45 per share, for a total transaction of $248,280.00. Following the transaction, the director now directly owns 2,400 shares in the company, valued at $248,280. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. Company insiders own 0.41% 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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