Diamondback Energy, Inc. $FANG Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 46.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,989 shares of the oil and natural gas company’s stock after acquiring an additional 39,986 shares during the period. Quantinno Capital Management LP’s holdings in Diamondback Energy were worth $24,919,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FANG. SummitTX Capital L.P. acquired a new position in shares of Diamondback Energy during the 1st quarter worth approximately $890,000. Castleark Management LLC purchased a new stake in shares of Diamondback Energy in the first quarter valued at approximately $28,684,000. ABS Direct Equity Fund LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $363,000. Cardiff Park Advisors LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $221,000. Finally, Gateway Wealth Partners LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $316,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 1.6%

FANG stock opened at $202.95 on Friday. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The firm has a market cap of $57.09 billion, a PE ratio of 235.99 and a beta of 0.42. The firm’s 50 day moving average price is $190.79 and its 200-day moving average price is $184.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.54 earnings per share. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 18.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FANG. Wells Fargo & Company set a $212.00 price objective on Diamondback Energy in a research note on Monday, June 22nd. Susquehanna raised their target price on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Weiss Ratings lowered Diamondback Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. UBS Group lowered their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, Barclays upped their price objective on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $218.63.

Insiders Place Their Bets

In other news, Director Charles Alvin Meloy sold 83,334 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the transaction, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This represents a 8.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,691 shares of company stock worth $21,622,752 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.