Macquarie Group Ltd. reduced its position in Diamondback Energy Inc (NASDAQ:FANG) by 29.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 170,742 shares of the oil and natural gas company’s stock after selling 70,677 shares during the period. Macquarie Group Ltd. owned 0.17% of Diamondback Energy worth $15,828,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Ranger Investment Management L.P. purchased a new stake in Diamondback Energy in the 4th quarter valued at approximately $25,000. Legacy Financial Advisors Inc. acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at about $30,000. Oregon Public Employees Retirement Fund grew its stake in shares of Diamondback Energy by 28,126.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 2,971,317 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Diamondback Energy during the fourth quarter valued at about $36,000. Finally, Rehmann Capital Advisory Group grew its stake in shares of Diamondback Energy by 114.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock valued at $37,000 after acquiring an additional 214 shares in the last quarter.
Several equities analysts have recently commented on FANG shares. Morgan Stanley set a $147.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 29th. Wells Fargo & Co cut their target price on shares of Diamondback Energy from $157.00 to $151.00 and set a “positive” rating on the stock in a report on Thursday, December 20th. Williams Capital reissued a “buy” rating and issued a $153.00 target price on shares of Diamondback Energy in a report on Wednesday, December 12th. ValuEngine raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Zacks Investment Research raised shares of Diamondback Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 8th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $158.27.
NASDAQ FANG opened at $103.69 on Tuesday. The stock has a market capitalization of $17.04 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 0.63 and a beta of 0.80. Diamondback Energy Inc has a twelve month low of $85.19 and a twelve month high of $140.78. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.41). Diamondback Energy had a return on equity of 7.83% and a net margin of 38.84%. The company had revenue of $633.06 million for the quarter, compared to analyst estimates of $663.21 million. As a group, research analysts anticipate that Diamondback Energy Inc will post 7.77 earnings per share for the current fiscal year.
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Diamondback Energy Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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