Artisan Partners Limited Partnership lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 964.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,847,919 shares of the oil and natural gas company’s stock after purchasing an additional 1,674,336 shares during the quarter. Artisan Partners Limited Partnership owned 1.88% of Diamondback Energy worth $164,114,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Diamondback Energy by 13.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 162,597 shares of the oil and natural gas company’s stock worth $14,438,000 after purchasing an additional 19,807 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Diamondback Energy by 10.6% in the 2nd quarter. ProShare Advisors LLC now owns 8,852 shares of the oil and natural gas company’s stock worth $786,000 after purchasing an additional 851 shares in the last quarter. Profund Advisors LLC boosted its holdings in shares of Diamondback Energy by 1.5% in the 2nd quarter. Profund Advisors LLC now owns 4,163 shares of the oil and natural gas company’s stock worth $370,000 after purchasing an additional 62 shares in the last quarter. Stevens Capital Management LP boosted its holdings in shares of Diamondback Energy by 1,731.4% in the 2nd quarter. Stevens Capital Management LP now owns 35,420 shares of the oil and natural gas company’s stock worth $3,146,000 after purchasing an additional 33,486 shares in the last quarter. Finally, Tricadia Capital Management LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter worth about $727,000.
Shares of Diamondback Energy, Inc. (NASDAQ:FANG) traded up 0.86% on Monday, hitting $94.78. The stock had a trading volume of 236,604 shares. The company has a market cap of $9.30 billion, a P/E ratio of 26.06 and a beta of 1.08. Diamondback Energy, Inc. has a 52-week low of $82.77 and a 52-week high of $114.00. The company has a 50-day moving average of $91.26 and a 200-day moving average of $95.70.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business had revenue of $267.40 million during the quarter, compared to analyst estimates of $258.75 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 137.7% compared to the same quarter last year. On average, equities analysts anticipate that Diamondback Energy, Inc. will post $4.93 EPS for the current fiscal year.
In other news, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total transaction of $57,518.50. Following the sale, the vice president now directly owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The disclosure for this sale can be found here. Insiders have sold 1,805 shares of company stock valued at $166,741 in the last ninety days. Insiders own 0.41% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Scotiabank set a $95.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. Mizuho reiterated a “buy” rating and issued a $114.00 price objective (up from $109.00) on shares of Diamondback Energy in a report on Thursday, August 3rd. Williams Capital set a $114.00 target price on Diamondback Energy and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies reissued a “buy” rating and issued a $112.00 target price on shares of Diamondback Energy in a research note on Thursday. Finally, Roth Capital boosted their target price on Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.87.
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Diamondback Energy 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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