Skandinaviska Enskilda Banken AB publ lifted its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 16.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,039 shares of the oil and natural gas company’s stock after acquiring an additional 2,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Diamondback Energy were worth $1,767,000 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. Dimensional Fund Advisors LP lifted its stake in shares of Diamondback Energy by 3.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 396,960 shares of the oil and natural gas company’s stock valued at $38,883,000 after purchasing an additional 13,808 shares during the period. Adams Street Partners LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $418,000. Precocity Capital LP acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $18,123,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Diamondback Energy by 4.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 302,038 shares of the oil and natural gas company’s stock valued at $29,588,000 after purchasing an additional 13,139 shares during the period. Finally, Barings LLC lifted its stake in shares of Diamondback Energy by 94.9% in the 3rd quarter. Barings LLC now owns 9,357 shares of the oil and natural gas company’s stock valued at $917,000 after purchasing an additional 4,557 shares during the period.
FANG has been the subject of a number of research reports. KeyCorp restated a “buy” rating and issued a $113.00 price objective on shares of Diamondback Energy in a report on Wednesday, September 6th. Piper Jaffray Companies restated a “buy” rating and issued a $112.00 price objective on shares of Diamondback Energy in a report on Thursday, September 14th. Northland Securities reiterated a “buy” rating and issued a $125.00 target price on shares of Diamondback Energy in a research note on Tuesday, September 26th. Williams Capital reiterated a “hold” rating and issued a $110.00 target price (up from $105.00) on shares of Diamondback Energy in a research note on Tuesday, October 3rd. Finally, US Capital Advisors reiterated a “buy” rating on shares of Diamondback Energy in a research note on Monday, October 2nd. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $124.58.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.31. The firm had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a net margin of 27.20% and a return on equity of 6.03%. The company’s revenue was up 112.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. sell-side analysts predict that Diamondback Energy Inc will post 5.06 EPS for the current fiscal year.
In other news, insider Michael L. Hollis sold 10,000 shares of Diamondback Energy stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the chief financial officer now owns 31,760 shares in the company, valued at approximately $3,550,450.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,400 shares of company stock worth $5,086,210. Insiders own 0.41% of the company’s stock.
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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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