Diamondback Energy, Inc. $FANG Stock Bought by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 3,685.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,000 shares of the oil and natural gas company’s stock after buying an additional 48,679 shares during the quarter. International Assets Investment Management LLC’s holdings in Diamondback Energy were worth $9,190,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Diamondback Energy during the second quarter worth $3,303,362,000. Bank of New York Mellon Corp purchased a new position in Diamondback Energy during the second quarter valued at $852,791,000. Wellington Management Group LLP increased its holdings in Diamondback Energy by 31.3% in the 2nd quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock valued at $2,886,351,000 after acquiring an additional 3,918,943 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Diamondback Energy in the 2nd quarter valued at $268,855,000. Finally, Legal & General Group Plc bought a new stake in Diamondback Energy in the 2nd quarter valued at $176,828,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 2.7%

NASDAQ FANG opened at $212.08 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The company has a market capitalization of $59.39 billion, a P/E ratio of 41.34 and a beta of 0.55. Diamondback Energy, Inc. has a one year low of $137.03 and a one year high of $216.90. The stock has a 50 day moving average price of $197.38 and a 200-day moving average price of $189.06.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the firm posted $2.38 earnings per share. Diamondback Energy’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, equities analysts predict that Diamondback Energy, Inc. will post 21.49 EPS for the current fiscal year.

Insider Buying and Selling at Diamondback Energy

In other news, Director Charles Meloy sold 33,333 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $183.74, for a total value of $6,124,605.42. Following the sale, the director directly owned 759,864 shares in the company, valued at $139,617,411.36. The trade was a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis D. Stice sold 75,000 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $204.31, for a total transaction of $15,323,250.00. Following the completion of the sale, the director owned 49,727 shares in the company, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 141,666 shares of company stock valued at $28,061,456 in the last quarter. 0.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on FANG. Barclays decreased their price target on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Stephens restated an “outperform” rating on shares of Diamondback Energy in a research report on Tuesday, October 13th. JPMorgan Chase & Co. raised their price objective on Diamondback Energy from $211.00 to $233.00 in a research report on Wednesday, August 5th. BMO Capital Markets lifted their target price on Diamondback Energy from $215.00 to $224.00 and gave the stock an “outperform” rating in a report on Friday, October 2nd. Finally, Citigroup decreased their target price on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.43.

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company’s operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.