Teachers Retirement System of The State of Kentucky decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 42.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,597 shares of the oil and natural gas company’s stock after selling 8,611 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Diamondback Energy were worth $1,030,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in FANG. BlackRock Inc. lifted its holdings in Diamondback Energy by 5,554.4% in the first quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock valued at $488,205,000 after acquiring an additional 4,623,946 shares during the period. Warburg Pincus LLC acquired a new position in Diamondback Energy in the first quarter valued at approximately $291,598,000. Artisan Partners Limited Partnership lifted its holdings in Diamondback Energy by 964.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock valued at $164,114,000 after acquiring an additional 1,674,336 shares during the period. JPMorgan Chase & Co. lifted its holdings in Diamondback Energy by 20.1% in the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock valued at $677,951,000 after acquiring an additional 1,278,802 shares during the period. Finally, Harbour Capital Advisors LLC lifted its holdings in Diamondback Energy by 8,536.0% in the second quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock valued at $8,637,000 after acquiring an additional 758,170 shares during the period.
Diamondback Energy, Inc. (NASDAQ FANG) opened at 100.76 on Wednesday. The company’s 50-day moving average price is $94.11 and its 200 day moving average price is $95.08. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 27.70 and a beta of 1.08. Diamondback Energy, Inc. has a 1-year low of $82.77 and a 1-year high of $114.00.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 137.7% compared to the same quarter last year. On average, equities analysts expect that Diamondback Energy, Inc. will post $4.94 earnings per share for the current fiscal year.
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Several research analysts have recently weighed in on FANG shares. Zacks Investment Research downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub downgraded Diamondback Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $100.00 target price on shares of Diamondback Energy in a research note on Tuesday, June 27th. TheStreet downgraded Diamondback Energy from a “b-” rating to a “c” rating in a research note on Thursday, July 6th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $112.00 target price on shares of Diamondback Energy in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $120.39.
In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $100.00, for a total transaction of $100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total value of $387,560.00. Following the sale, the vice president now directly owns 70,214 shares of the company’s stock, valued at approximately $6,803,034.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,805 shares of company stock valued at $1,129,501. 0.41% of the stock is owned by company insiders.
Diamondback Energy 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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