Legal & General Group Plc lifted its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 22.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,226 shares of the oil and natural gas company’s stock after acquiring an additional 22,952 shares during the period. Legal & General Group Plc owned 0.13% of Diamondback Energy worth $12,463,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in FANG. Johnson Financial Group Inc. purchased a new position in shares of Diamondback Energy during the second quarter worth approximately $102,000. Cubist Systematic Strategies LLC lifted its holdings in shares of 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 period. Crossmark Global Holdings Inc. acquired a new stake in shares of Diamondback Energy during the third quarter worth $206,000. Commerce Bank acquired a new stake in shares of Diamondback Energy during the third quarter worth $208,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Diamondback Energy during the second quarter worth $215,000.
Several equities research analysts recently weighed in on FANG shares. US Capital Advisors reaffirmed a “buy” rating on shares of Diamondback Energy in a report on Monday, October 2nd. Northland Securities reaffirmed a “buy” rating and set a $125.00 price target on shares of Diamondback Energy in a report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $112.00 price target on shares of Diamondback Energy in a report on Thursday, September 14th. KeyCorp reaffirmed a “buy” rating and set a $113.00 price target on shares of Diamondback Energy in a report on Wednesday, September 6th. Finally, BMO Capital Markets set a $110.00 price target on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $126.68.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. During the same quarter last year, the company earned ($0.03) earnings per share. Diamondback Energy’s quarterly revenue was up 112.0% compared to the same quarter last year. equities research analysts expect that Diamondback Energy Inc will post 5.02 EPS for the current year.
In other news, CFO Teresa L. Dick sold 5,000 shares of Diamondback Energy stock in a transaction on Friday, November 10th. The stock was sold at an average price of $111.79, for a total transaction of $558,950.00. Following the completion of the transaction, the chief financial officer now owns 31,760 shares of the company’s stock, valued at approximately $3,550,450.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Russell Pantermuehl sold 1,400 shares of Diamondback Energy stock in a transaction on Monday, December 4th. The stock was sold at an average price of $111.10, for a total value of $155,540.00. Following the transaction, the vice president now directly owns 60,814 shares of the company’s stock, valued at approximately $6,756,435.40. The disclosure for this sale can be found here. In the last three months, insiders sold 26,400 shares of company stock valued at $2,753,230. 0.41% of the stock is owned by corporate insiders.
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About Diamondback Energy
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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