Bright Rock Capital Management LLC held its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, Holdings Channel reports. The institutional investor owned 14,100 shares of the oil and natural gas company’s stock at the end of the second quarter. Bright Rock Capital Management LLC’s holdings in Diamondback Energy were worth $1,252,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Diamondback Energy by 17.0% in the first quarter. FMR LLC now owns 11,423,256 shares of the oil and natural gas company’s stock valued at $1,184,763,000 after buying an additional 1,661,551 shares during the period. Vanguard Group Inc. raised its stake in shares of Diamondback Energy by 6.0% in the first quarter. Vanguard Group Inc. now owns 7,336,800 shares of the oil and natural gas company’s stock valued at $760,937,000 after buying an additional 417,820 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Diamondback Energy by 8.1% in the first quarter. JPMorgan Chase & Co. now owns 6,354,921 shares of the oil and natural gas company’s stock valued at $659,101,000 after buying an additional 477,648 shares during the period. BlackRock Inc. raised its stake in shares of Diamondback Energy by 5,554.4% in the first quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock valued at $488,205,000 after buying an additional 4,623,946 shares during the period. Finally, Warburg Pincus LLC purchased a new stake in shares of Diamondback Energy during the first quarter valued at $291,598,000. 97.20% of the stock is owned by institutional investors.
Shares of Diamondback Energy, Inc. (NASDAQ:FANG) opened at 94.58 on Thursday. Diamondback Energy, Inc. has a 52-week low of $82.77 and a 52-week high of $114.00. The company has a market cap of $9.28 billion, a P/E ratio of 2012.34 and a beta of 1.06. The company has a 50-day moving average price of $91.14 and a 200-day moving average price of $98.36.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm’s revenue for the quarter was up 137.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. On average, equities analysts predict that Diamondback Energy, Inc. will post $4.89 EPS for the current year.
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Several equities research analysts recently weighed in on FANG shares. BidaskClub raised Diamondback Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Roth Capital lifted their target price on Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, July 27th. BMO Capital Markets set a $100.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, August 1st. Northland Securities set a $125.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $151.00 target price on shares of Diamondback Energy in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $115.77.
In related news, Director Steven E. West acquired 2,400 shares of the stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $103.45 per share, with a total value of $248,280.00. Following the purchase, the director now directly owns 2,400 shares of the company’s stock, valued at $248,280. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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