Columbia Partners L L C Investment Management Boosts Stake in Diamondback Energy, Inc. (FANG)
Columbia Partners L L C Investment Management lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 20.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,174 shares of the oil and natural gas company’s stock after buying an additional 3,858 shares during the quarter. Columbia Partners L L C Investment Management’s holdings in Diamondback Energy were worth $2,270,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of FANG. Warburg Pincus LLC lifted its holdings in shares of Diamondback Energy by 132.4% during the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock worth $580,188,000 after buying an additional 3,721,519 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Diamondback Energy by 964.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock worth $164,114,000 after buying an additional 1,674,336 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Diamondback Energy by 20.1% during the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock worth $677,951,000 after buying an additional 1,278,802 shares in the last quarter. Capital World Investors lifted its holdings in shares of Diamondback Energy by 98.1% during the second quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock worth $223,490,000 after buying an additional 1,246,072 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Diamondback Energy by 18.1% during the third quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after buying an additional 1,208,864 shares in the last quarter.
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A number of research firms recently commented on FANG. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. The Goldman Sachs Group, Inc. downgraded Diamondback Energy from a “conviction-buy” rating to a “buy” rating and boosted their price target for the company from $106.53 to $118.00 in a research note on Friday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $112.00 price target on shares of Diamondback Energy in a research note on Thursday, September 14th. Mizuho reaffirmed a “buy” rating and issued a $114.00 price target (up previously from $109.00) on shares of Diamondback Energy in a research note on Thursday, August 3rd. Finally, Northland Securities set a $125.00 price target on Diamondback Energy and gave the company a “buy” rating in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Diamondback Energy currently has a consensus rating of “Buy” and an average target price of $124.54.
Shares of Diamondback Energy, Inc. (NASDAQ:FANG) traded up $1.01 during mid-day trading on Friday, reaching $107.54. The company had a trading volume of 1,144,274 shares, compared to its average volume of 1,375,479. Diamondback Energy, Inc. has a 1-year low of $82.77 and a 1-year high of $114.93. The company has a market capitalization of $10,450.00, a PE ratio of 23.18, a PEG ratio of 0.79 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue was up 112.0% on a year-over-year basis. sell-side analysts predict that Diamondback Energy, Inc. will post 5.01 earnings per share for the current year.
In related news, VP Paul Molnar sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the sale, the vice president now directly owns 42,563 shares in the company, valued at $4,045,187.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the sale, the vice president now owns 4,950 shares in the company, valued at $438,025.50. The disclosure for this sale can be found here. Insiders sold 23,805 shares of company stock worth $2,446,531 over the last quarter. 0.41% of the stock is currently owned by company insiders.
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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