M&T Bank Corp boosted its holdings in shares of Diamondback Energy (NASDAQ:FANG) by 26.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,692 shares of the oil and natural gas company’s stock after buying an additional 1,629 shares during the quarter. M&T Bank Corp’s holdings in Diamondback Energy were worth $973,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Castleark Management LLC raised its holdings in shares of Diamondback Energy by 127.1% in the 4th quarter. Castleark Management LLC now owns 113,983 shares of the oil and natural gas company’s stock valued at $14,390,000 after purchasing an additional 63,801 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Diamondback Energy by 25.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 15,287 shares of the oil and natural gas company’s stock valued at $1,930,000 after purchasing an additional 3,126 shares in the last quarter. Gradient Investments LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at $517,000. California Public Employees Retirement System raised its holdings in shares of Diamondback Energy by 12.5% in the 4th quarter. California Public Employees Retirement System now owns 209,415 shares of the oil and natural gas company’s stock valued at $26,439,000 after purchasing an additional 23,254 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Diamondback Energy by 33.7% in the 4th quarter. Sei Investments Co. now owns 157,323 shares of the oil and natural gas company’s stock valued at $19,863,000 after purchasing an additional 39,657 shares in the last quarter.
In other Diamondback Energy news, CFO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $130.97, for a total transaction of $327,425.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Randall J. Holder sold 7,120 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $124.15, for a total transaction of $883,948.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,620 shares of company stock worth $1,567,773 over the last three months. 0.57% of the stock is currently owned by insiders.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The company had revenue of $480.20 million for the quarter, compared to the consensus estimate of $445.78 million. During the same period last year, the firm posted $1.04 EPS. Diamondback Energy’s revenue for the quarter was up 104.1% on a year-over-year basis. research analysts forecast that Diamondback Energy will post 6.65 EPS for the current year.
The firm also recently disclosed a special dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Monday, May 21st will be given a dividend of $0.125 per share. The ex-dividend date is Friday, May 18th.
A number of equities research analysts have recently weighed in on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $141.00 price objective on shares of Diamondback Energy in a report on Friday, April 6th. Morgan Stanley reduced their price objective on shares of Diamondback Energy to $164.00 and set an “overweight” rating on the stock in a report on Wednesday, February 7th. B. Riley assumed coverage on shares of Diamondback Energy in a report on Monday, February 5th. They issued a “neutral” rating and a $150.00 price objective on the stock. Stifel Nicolaus set a $169.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, April 10th. Finally, Northland Securities set a $140.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $142.04.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.