Public Employees Retirement Association of Colorado Boosts Position in Diamondback Energy, Inc. (FANG)
Public Employees Retirement Association of Colorado increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 18,387 shares of the oil and natural gas company’s stock after buying an additional 229 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Diamondback Energy were worth $1,633,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Karp Capital Management Corp bought a new stake in Diamondback Energy during the first quarter valued at $2,207,000. Investment House LLC boosted its stake in Diamondback Energy by 228.2% in the first quarter. Investment House LLC now owns 9,845 shares of the oil and natural gas company’s stock valued at $1,021,000 after buying an additional 6,845 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Diamondback Energy by 5.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 268,944 shares of the oil and natural gas company’s stock valued at $27,894,000 after buying an additional 14,331 shares during the period. Stevens Capital Management LP bought a new stake in Diamondback Energy during the first quarter valued at $201,000. Finally, Nicholas Investment Partners LP boosted its stake in Diamondback Energy by 39.4% in the first quarter. Nicholas Investment Partners LP now owns 34,856 shares of the oil and natural gas company’s stock valued at $3,615,000 after buying an additional 9,849 shares during the period. Hedge funds and other institutional investors own 97.20% of the company’s stock.
Shares of Diamondback Energy, Inc. (FANG) opened at 92.87 on Friday. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 25.53 and a beta of 1.06. Diamondback Energy, Inc. has a 52 week low of $82.77 and a 52 week high of $114.00. The stock’s 50 day moving average is $91.49 and its 200-day moving average is $98.25.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.44. The firm had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The business’s revenue for the quarter was up 137.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. On average, equities analysts anticipate that Diamondback Energy, Inc. will post $4.88 earnings per share for the current year.
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Several analysts have recently weighed in on FANG shares. Zacks Investment Research cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Credit Suisse Group restated an “outperform” rating and set a $151.00 price objective on shares of Diamondback Energy in a research report on Friday, June 2nd. BMO Capital Markets restated a “buy” rating and set a $100.00 price objective on shares of Diamondback Energy in a research report on Tuesday, June 27th. Finally, Williams Capital set a $114.00 price objective on shares of Diamondback Energy and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $115.92.
In related news, Director Steven E. West purchased 2,400 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the acquisition, the director now owns 2,400 shares in the company, valued at approximately $248,280. The purchase 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 company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. Corporate 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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