Diamondback Energy Inc (FANG) Shares Sold by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. cut its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 28.6% in the third quarter, HoldingsChannel.com reports. The firm owned 40,700 shares of the oil and natural gas company’s stock after selling 16,300 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in Diamondback Energy were worth $5,502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Diamondback Energy by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock worth $209,737,000 after purchasing an additional 29,280 shares during the period. Bank of America Corp DE lifted its stake in Diamondback Energy by 40.4% during the 2nd quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock worth $121,835,000 after acquiring an additional 266,321 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Diamondback Energy by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 733,515 shares of the oil and natural gas company’s stock worth $96,505,000 after acquiring an additional 109,099 shares in the last quarter. Carillon Tower Advisers Inc. lifted its stake in Diamondback Energy by 4.5% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 628,693 shares of the oil and natural gas company’s stock worth $82,716,000 after acquiring an additional 26,818 shares in the last quarter. Finally, Columbus Circle Investors lifted its stake in Diamondback Energy by 23.2% during the 3rd quarter. Columbus Circle Investors now owns 574,751 shares of the oil and natural gas company’s stock worth $77,701,000 after acquiring an additional 108,113 shares in the last quarter.

In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction dated 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 owns 89,532 shares in the company, valued at approximately $11,442,189.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Several equities analysts recently issued reports on FANG shares. TD Securities started coverage on Diamondback Energy in a research note on Thursday, July 5th. They set a “buy” rating and a $165.00 target price on the stock. BidaskClub raised Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Susquehanna Bancshares started coverage on Diamondback Energy in a research note on Wednesday, July 11th. They set a “positive” rating and a $164.00 target price on the stock. Morgan Stanley increased their target price on Diamondback Energy from $163.00 to $176.00 and gave the stock an “overweight” rating in a research note on Thursday, July 12th. Finally, Jefferies Financial Group set a $181.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Friday, July 13th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $156.31.

FANG opened at $108.17 on Tuesday. Diamondback Energy Inc has a one year low of $104.75 and a one year high of $140.78. The stock has a market capitalization of $11.23 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 0.71 and a beta of 0.59. 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 released its quarterly earnings data on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The business had revenue of $526.30 million during the quarter, compared to analysts’ expectations of $479.57 million. During the same quarter in the previous year, the company posted $1.25 EPS. The company’s revenue was up 95.4% compared to the same quarter last year. On average, research analysts expect that Diamondback Energy Inc will post 6.48 earnings per share for the current 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.

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

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