Geode Capital Management LLC raised its stake in Diamondback Energy Inc (NASDAQ:FANG) by 2.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 876,107 shares of the oil and natural gas company’s stock after buying an additional 18,817 shares during the quarter. Geode Capital Management LLC’s holdings in Diamondback Energy were worth $110,554,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Morris Capital Advisors LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $3,917,000. Calamos Advisors LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $212,000. Adams Natural Resources Fund Inc. increased its stake in shares of Diamondback Energy by 13.4% during the 4th quarter. Adams Natural Resources Fund Inc. now owns 84,900 shares of the oil and natural gas company’s stock worth $10,719,000 after purchasing an additional 10,000 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Diamondback Energy by 22.4% during the 4th quarter. Allianz Asset Management GmbH now owns 193,192 shares of the oil and natural gas company’s stock worth $24,390,000 after purchasing an additional 35,291 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Diamondback Energy by 6.1% during the 4th quarter. Amalgamated Bank now owns 19,016 shares of the oil and natural gas company’s stock worth $2,401,000 after purchasing an additional 1,101 shares in the last quarter.
In other Diamondback Energy news, 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 transaction, the vice president now owns 37,563 shares in the company, valued at approximately $4,200,670.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Travis D. Stice sold 87,150 shares of Diamondback Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $125.20, for a total transaction of $10,911,180.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,431 shares of company stock worth $24,672,592. 0.41% of the stock is owned by company insiders.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.16. The company had revenue of $399.19 million for the quarter, compared to analyst estimates of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. equities research analysts expect that Diamondback Energy Inc will post 6.99 earnings per share for the current year.
A number of research analysts have recently weighed in on FANG shares. Zacks Investment Research raised 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 note on Wednesday, January 17th. Deutsche Bank initiated coverage on shares of Diamondback Energy in a research report on Thursday, February 1st. They set a “buy” rating and a $162.00 target price on the stock. Scotiabank restated a “buy” rating and set a $118.00 target price on shares of Diamondback Energy in a research report on Wednesday, November 22nd. Piper Jaffray Companies restated a “buy” rating and set a $138.00 target price on shares of Diamondback Energy in a research report on Tuesday, January 9th. Finally, Credit Suisse Group set a $143.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and an average price target of $139.40.
TRADEMARK VIOLATION NOTICE: “Diamondback Energy Inc (FANG) Shares Bought by Geode Capital Management LLC” was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://sportsperspectives.com/2018/03/11/diamondback-energy-inc-fang-shares-bought-by-geode-capital-management-llc.html.
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.
Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy Inc (NASDAQ:FANG).
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.