Regents of The University of California Acquires Shares of 14,420 Diamondback Energy Inc (FANG)
Regents of The University of California acquired a new position in Diamondback Energy Inc (NASDAQ:FANG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,420 shares of the oil and natural gas company’s stock, valued at approximately $1,413,000. Diamondback Energy accounts for 2.9% of Regents of The University of California’s portfolio, making the stock its 6th largest holding.
Other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new position in Diamondback Energy in the second quarter worth approximately $102,000. Crossmark Global Holdings Inc. purchased a new position in Diamondback Energy in the third quarter worth approximately $206,000. Commerce Bank purchased a new position in Diamondback Energy in the third quarter worth approximately $208,000. Cubist Systematic Strategies LLC grew its position in Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after acquiring an additional 700 shares during the period. Finally, Raymond James Trust N.A. purchased a new position in Diamondback Energy in the third quarter worth approximately $237,000.
FANG has been the subject of several analyst reports. BidaskClub lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. BMO Capital Markets set a $110.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Scotiabank reiterated a “buy” rating and issued a $118.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 22nd. Morgan Stanley increased their price objective on Diamondback Energy from $118.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Finally, Citigroup initiated coverage on Diamondback Energy in a research report on Friday, December 1st. They issued a “buy” rating and a $130.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $125.56.
In related news, VP Russell Pantermuehl sold 1,400 shares of Diamondback Energy stock in a transaction on Monday, December 4th. The stock was sold at an average price of $111.10, for a total value of $155,540.00. Following the completion of the transaction, the vice president now directly owns 60,814 shares in the company, valued at $6,756,435.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paul Molnar sold 5,000 shares of Diamondback Energy stock in a transaction on Monday, December 11th. The shares were sold at an average price of $111.83, for a total value of $559,150.00. Following the completion of the transaction, the vice president now owns 37,563 shares of the company’s stock, valued at $4,200,670.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,400 shares of company stock valued at $3,312,380. 0.41% of the stock is currently owned by company insiders.
Diamondback Energy Inc (NASDAQ:FANG) opened at $111.59 on Thursday. Diamondback Energy Inc has a 52-week low of $82.77 and a 52-week high of $114.93. The company has a market capitalization of $10,926.02, a price-to-earnings ratio of 23.83, a PEG ratio of 0.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46.
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, beating the Zacks’ consensus estimate of $1.02 by $0.31. The firm had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. Diamondback Energy’s revenue was up 112.0% compared to the same quarter last year. During the same period last year, the business posted ($0.03) earnings per share. equities research analysts predict that Diamondback Energy Inc will post 5.02 EPS for the current year.
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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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