18,072 Shares in Diamondback Energy Inc (FANG) Purchased by Cabot Wealth Management Inc.

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Cabot Wealth Management Inc. bought a new position in shares of Diamondback Energy Inc (NASDAQ:FANG) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 18,072 shares of the oil and natural gas company’s stock, valued at approximately $2,443,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Diamondback Energy by 13.2% during the 1st quarter. Principal Financial Group Inc. now owns 13,523 shares of the oil and natural gas company’s stock worth $1,711,000 after purchasing an additional 1,578 shares during the period. LPL Financial LLC raised its position in shares of Diamondback Energy by 106.8% during the 1st quarter. LPL Financial LLC now owns 10,797 shares of the oil and natural gas company’s stock worth $1,366,000 after purchasing an additional 5,577 shares during the period. Suntrust Banks Inc. raised its position in shares of Diamondback Energy by 42.4% during the 1st quarter. Suntrust Banks Inc. now owns 6,708 shares of the oil and natural gas company’s stock worth $847,000 after purchasing an additional 1,997 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Diamondback Energy by 7.1% during the 2nd quarter. Gulf International Bank UK Ltd now owns 30,275 shares of the oil and natural gas company’s stock worth $3,983,000 after purchasing an additional 2,000 shares during the period. Finally, DnB Asset Management AS acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $1,386,000.

Shares of NASDAQ FANG opened at $109.88 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.54 and a quick ratio of 0.52. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.68 and a beta of 0.59. Diamondback Energy Inc has a 1 year low of $105.56 and a 1 year high of $140.78.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The firm had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The business’s revenue for the quarter was up 95.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 earnings per share. Equities research analysts forecast that Diamondback Energy Inc will post 6.53 earnings per share for the current year.

A number of analysts have recently weighed in on FANG shares. TD Securities started coverage on Diamondback Energy in a research report on Thursday, July 5th. They set a “buy” rating and a $165.00 price target on the stock. BidaskClub upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Susquehanna Bancshares started coverage on Diamondback Energy in a research report on Wednesday, July 11th. They set a “positive” rating and a $164.00 price target on the stock. Morgan Stanley increased their price target on Diamondback Energy from $163.00 to $176.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Finally, Jefferies Financial Group set a $181.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research report on Friday, July 13th. Four analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $156.31.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the transaction, the vice president now directly owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Diamondback Energy Profile

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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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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