Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,039 shares of the oil and natural gas company’s stock after purchasing an additional 2,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Diamondback Energy were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Viking Fund Management LLC lifted its holdings in shares of Diamondback Energy by 6.3% during the third quarter. Viking Fund Management LLC now owns 220,000 shares of the oil and natural gas company’s stock valued at $21,551,000 after purchasing an additional 13,000 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Diamondback Energy by 964.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock valued at $164,114,000 after acquiring an additional 1,674,336 shares during the period. IBM Retirement Fund bought a new position in Diamondback Energy in the third quarter valued at about $960,000. Gluskin Sheff & Assoc Inc. lifted its holdings in Diamondback Energy by 221.5% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 13,150 shares of the oil and natural gas company’s stock valued at $1,288,000 after acquiring an additional 9,060 shares during the period. Finally, Braun Stacey Associates Inc. bought a new position in Diamondback Energy in the third quarter valued at about $12,328,000.
A number of research firms have weighed in on FANG. KeyCorp reissued an “overweight” rating and issued a $125.00 target price (up previously from $117.00) on shares of Diamondback Energy in a report on Tuesday, November 7th. SunTrust Banks reissued a “buy” rating and issued a $130.00 target price on shares of Diamondback Energy in a report on Friday, November 10th. Imperial Capital increased their target price on Diamondback Energy from $113.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, BMO Capital Markets set a $130.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $126.88.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The firm had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. During the same quarter last year, the business posted ($0.03) earnings per share. The firm’s revenue was up 112.0% on a year-over-year basis. analysts forecast that Diamondback Energy Inc will post 5.02 EPS for the current fiscal year.
In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $100.00, for a total transaction of $100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Russell Pantermuehl sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $111.10, for a total value of $155,540.00. Following the transaction, the vice president now owns 60,814 shares of the company’s stock, valued at approximately $6,756,435.40. The disclosure for this sale can be found here. Insiders have sold 26,400 shares of company stock valued at $2,753,230 in the last quarter. 0.41% of the stock is currently owned by company insiders.
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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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