Alpine Partners VI LLC Purchases Shares of 5,095 Diamondback Energy Inc. (FANG)
Alpine Partners VI LLC acquired a new stake in shares of Diamondback Energy Inc. (NASDAQ:FANG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,095 shares of the company’s stock, valued at approximately $465,000.
Several other large investors also recently added to or reduced their stakes in FANG. Winslow Capital Management LLC acquired a new stake in shares of Diamondback Energy during the second quarter valued at $255,580,000. FMR LLC boosted its stake in shares of Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock valued at $773,449,000 after buying an additional 665,001 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Diamondback Energy during the first quarter valued at $29,799,000. Magnetar Financial LLC boosted its stake in shares of Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock valued at $57,777,000 after buying an additional 348,600 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of Diamondback Energy by 4.4% in the second quarter. Boston Partners now owns 7,138,560 shares of the company’s stock valued at $651,109,000 after buying an additional 303,405 shares in the last quarter. Hedge funds and other institutional investors own 99.74% of the company’s stock.
Shares of Diamondback Energy Inc. (NASDAQ:FANG) opened at 94.70 on Thursday. The stock’s market cap is $7.39 billion. Diamondback Energy Inc. has a 12 month low of $55.48 and a 12 month high of $99.69. The company has a 50-day moving average price of $94.00 and a 200-day moving average price of $88.66.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. The business had revenue of $112.48 million for the quarter, compared to analyst estimates of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts expect that Diamondback Energy Inc. will post $1.01 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Mizuho assumed coverage on shares of Diamondback Energy in a research report on Wednesday. They issued a “buy” rating and a $105.00 price target on the stock. Zacks Investment Research cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 30th. Nomura restated a “buy” rating and issued a $17.00 price target on shares of Diamondback Energy in a research report on Monday, September 26th. Williams Capital assumed coverage on shares of Diamondback Energy in a research report on Monday, August 29th. They issued a “hold” rating and a $105.00 price target on the stock. Finally, KeyCorp boosted their price target on shares of Diamondback Energy from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $95.52.
In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $2,940,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Teresa L. Dick sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.71, for a total value of $95,710.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at $2,464,532.50. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
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