Mount Yale Investment Advisors LLC bought a new stake in shares of Diamondback Energy Inc (NASDAQ:FANG) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,479 shares of the oil and natural gas company’s stock, valued at approximately $187,000.
Other institutional investors have also added to or reduced their stakes in the company. Next Century Growth Investors LLC acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at approximately $121,000. ClariVest Asset Management LLC raised its position in shares of Diamondback Energy by 14,557.1% in the 1st quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after acquiring an additional 1,019 shares during the period. Signaturefd LLC acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at approximately $132,000. Zions Bancorporation acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at approximately $136,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $149,000.
In related news, VP Hof Matthew Kaes Van’t sold 832 shares of the firm’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total value of $106,878.72. Following the completion of the transaction, the vice president now directly owns 6,897 shares of the company’s stock, valued at $885,988.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael L. Hollis sold 3,000 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $118.80, for a total transaction of $356,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,332 shares of company stock valued at $1,079,729 over the last ninety days. Company insiders own 0.57% of the company’s stock.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.05. The company had revenue of $480.20 million during the quarter, compared to analysts’ expectations of $445.78 million. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The business’s quarterly revenue was up 104.1% on a year-over-year basis. During the same period last year, the business earned $1.04 EPS. sell-side analysts expect that Diamondback Energy Inc will post 6.7 EPS for the current fiscal year.
A number of brokerages recently weighed in on FANG. BidaskClub downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Stifel Nicolaus set a $169.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, April 10th. Piper Jaffray Companies reiterated a “buy” rating and issued a $141.00 price target on shares of Diamondback Energy in a research report on Friday, April 6th. UBS Group started coverage on shares of Diamondback Energy in a report on Wednesday, March 7th. They set a “buy” rating and a $155.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Diamondback Energy from $155.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, May 1st. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $143.56.
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.
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