BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,612 shares of the oil and natural gas company’s stock after buying an additional 4,950 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.12% of Diamondback Energy worth $11,129,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in FANG. Warburg Pincus LLC raised its stake in Diamondback Energy by 132.4% in the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after buying an additional 3,721,519 shares during the period. Artisan Partners Limited Partnership increased its stake 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 purchasing an additional 1,674,336 shares during the period. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 1,278,802 shares during the period. Capital World Investors increased its stake 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 purchasing an additional 1,246,072 shares during the period. Finally, Boston Partners increased its stake 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 purchasing an additional 1,208,864 shares during the period.
A number of equities analysts have recently weighed in on the company. Citigroup assumed coverage on Diamondback Energy in a research note on Friday, December 1st. They set a “buy” rating and a $130.00 target price on the stock. Mizuho set a $122.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Saturday, November 25th. Piper Jaffray Companies reiterated a “buy” rating and set a $118.00 target price on shares of Diamondback Energy in a research note on Friday, November 24th. Scotiabank reiterated a “buy” rating and set a $118.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 22nd. Finally, Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and set a $137.00 target price on the stock in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $126.88.
Diamondback Energy Inc (FANG) opened at $110.77 on Friday. Diamondback Energy Inc has a 52 week low of $82.77 and a 52 week high of $114.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. The company has a market capitalization of $10,873.96, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same quarter last year, the company earned ($0.03) EPS. The company’s revenue was up 112.0% on a year-over-year basis. equities analysts forecast that Diamondback Energy Inc will post 5.02 earnings per share for the current year.
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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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