Strategic Global Advisors LLC Invests $573,000 in Diamondback Energy Inc (FANG)
Strategic Global Advisors LLC purchased a new position in Diamondback Energy Inc (NASDAQ:FANG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,853 shares of the oil and natural gas company’s stock, valued at approximately $573,000.
Other hedge funds have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Diamondback Energy by 1,565.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 94,100 shares of the oil and natural gas company’s stock worth $9,218,000 after acquiring an additional 88,450 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Diamondback Energy by 15.9% in the third quarter. Artisan Partners Limited Partnership now owns 2,141,967 shares of the oil and natural gas company’s stock worth $209,827,000 after acquiring an additional 294,048 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Diamondback Energy by 16.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 18,039 shares of the oil and natural gas company’s stock valued at $1,767,000 after purchasing an additional 2,600 shares during the period. Dimensional Fund Advisors LP grew its holdings in Diamondback Energy by 3.6% during the third quarter. Dimensional Fund Advisors LP now owns 396,960 shares of the oil and natural gas company’s stock valued at $38,883,000 after purchasing an additional 13,808 shares during the period. Finally, Adams Street Partners LLC bought a new stake in Diamondback Energy during the third quarter valued at about $418,000.
In other Diamondback Energy news, CFO Teresa L. Dick sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $111.79, for a total transaction of $558,950.00. Following the sale, the chief financial officer now directly owns 31,760 shares in the company, valued at $3,550,450.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Russell Pantermuehl sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $109.55, for a total value of $438,200.00. Following the sale, the vice president now owns 64,214 shares in the company, valued at $7,034,643.70. The disclosure for this sale can be found here. Insiders sold 23,155 shares of company stock worth $2,389,013 over the last quarter. 0.41% of the stock is owned by company insiders.
Diamondback Energy Inc (NASDAQ FANG) traded up $1.84 during trading hours on Friday, hitting $111.15. The company had a trading volume of 562,663 shares, compared to its average volume of 1,354,003. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $10,624.65, a P/E ratio of 23.18, a P/E/G ratio of 0.78 and a beta of 1.10. Diamondback Energy Inc has a 12 month low of $82.77 and a 12 month high of $114.93.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.31. The company had revenue of $301.30 million for the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a return on equity of 6.03% and a net margin of 27.20%. The firm’s revenue for the quarter was up 112.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) earnings per share. equities research analysts predict that Diamondback Energy Inc will post 5.02 earnings per share for the current year.
Several research firms have issued reports on FANG. BidaskClub lowered Diamondback Energy from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Citigroup began coverage on Diamondback Energy in a report on Friday. They set a “buy” rating and a $130.00 price target for the company. Piper Jaffray Companies reissued a “buy” rating and set a $112.00 price target on shares of Diamondback Energy in a report on Thursday, September 14th. Northland Securities set a $125.00 price target on Diamondback Energy and gave the company a “buy” rating in a report on Monday, August 21st. Finally, Mizuho reissued a “buy” rating and set a $114.00 price target (up previously from $109.00) on shares of Diamondback Energy in a report on Thursday, August 3rd. 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 stock presently has an average rating of “Buy” and an average price target of $126.88.
About Diamondback Energy
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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