Diamondback Energy Inc (FANG) Position Increased by William Blair Investment Management LLC
William Blair Investment Management LLC increased its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 24.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 851,819 shares of the oil and natural gas company’s stock after buying an additional 169,321 shares during the period. William Blair Investment Management LLC owned 0.87% of Diamondback Energy worth $107,542,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FANG. Sterling Capital Management LLC lifted its holdings in Diamondback Energy by 21.0% during the third quarter. Sterling Capital Management LLC now owns 37,872 shares of the oil and natural gas company’s stock valued at $3,710,000 after purchasing an additional 6,575 shares in the last quarter. Strategic Global Advisors LLC purchased a new position in Diamondback Energy during the third quarter valued at $573,000. Janney Montgomery Scott LLC lifted its holdings in Diamondback Energy by 139.6% during the third quarter. Janney Montgomery Scott LLC now owns 18,546 shares of the oil and natural gas company’s stock valued at $1,817,000 after purchasing an additional 10,806 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Diamondback Energy by 34.1% during the third quarter. Macquarie Group Ltd. now owns 232,215 shares of the oil and natural gas company’s stock valued at $22,747,000 after purchasing an additional 59,031 shares in the last quarter. Finally, Ashburton Jersey Ltd lifted its stake in shares of Diamondback Energy by 179.3% in the third quarter. Ashburton Jersey Ltd now owns 18,476 shares of the oil and natural gas company’s stock worth $1,810,000 after buying an additional 11,860 shares in the last quarter.
Several research firms have recently weighed in on FANG. B. Riley began coverage on shares of Diamondback Energy in a research note on Monday, February 5th. They issued a “neutral” rating and a $150.00 price target on the stock. Morgan Stanley decreased their price target on shares of Diamondback Energy to $164.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Piper Jaffray Companies set a $142.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, February 26th. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a research report on Wednesday, January 17th. Finally, BidaskClub cut shares of Diamondback Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $140.92.
Shares of Diamondback Energy stock opened at $130.18 on Thursday. The firm has a market cap of $12,323.92, a P/E ratio of 26.19, a PEG ratio of 0.70 and a beta of 0.91. The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 0.26. Diamondback Energy Inc has a 12-month low of $82.77 and a 12-month high of $134.52.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.16. The business had revenue of $399.19 million during the quarter, compared to the consensus estimate of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. research analysts expect that Diamondback Energy Inc will post 6.89 earnings per share for the current fiscal 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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