Diamondback Energy Inc (FANG) Holdings Reduced by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 38.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,756 shares of the oil and natural gas company’s stock after selling 44,559 shares during the period. Fisher Asset Management LLC owned approximately 0.07% of Diamondback Energy worth $9,701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. First Hawaiian Bank purchased a new stake in Diamondback Energy during the 3rd quarter valued at $121,000. Captrust Financial Advisors boosted its stake in Diamondback Energy by 99.8% during the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 497 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Diamondback Energy during the 2nd quarter valued at $201,000. Private Advisor Group LLC purchased a new stake in Diamondback Energy during the 2nd quarter valued at $204,000. Finally, Redpoint Investment Management Pty Ltd purchased a new stake in Diamondback Energy during the 2nd quarter valued at $233,000.

In related news, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the transaction, the vice president now directly owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

FANG has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Diamondback Energy from $164.00 to $168.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. SunTrust Banks reiterated a “buy” rating and set a $170.00 target price on shares of Diamondback Energy in a research note on Friday, August 10th. KLR Group reiterated a “buy” rating and set a $211.00 target price on shares of Diamondback Energy in a research note on Monday, August 20th. BidaskClub upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Finally, TD Securities set a $175.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, August 11th. Four research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and an average target price of $156.31.

FANG stock opened at $108.17 on Tuesday. The firm has a market capitalization of $11.23 billion, a PE ratio of 18.59, a PEG ratio of 0.71 and a beta of 0.59. Diamondback Energy Inc has a 1 year low of $104.75 and a 1 year high of $140.78. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.05). Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The company had revenue of $526.30 million during the quarter, compared to the consensus estimate of $479.57 million. During the same period in the prior year, the business posted $1.25 earnings per share. Diamondback Energy’s revenue for the quarter was up 95.4% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy Inc will post 6.48 earnings per share for the current fiscal year.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

See Also: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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