Financial Architects Inc boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1,266.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,456 shares of the oil and natural gas company’s stock after buying an additional 3,203 shares during the period. Financial Architects Inc’s holdings in Diamondback Energy were worth $307,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in shares of Diamondback Energy during the first quarter valued at approximately $180,000. Quantitative Systematic Strategies LLC bought a new position in shares of Diamondback Energy during the first quarter valued at approximately $231,000. CWM LLC increased its position in shares of Diamondback Energy by 6.9% in the first quarter. CWM LLC now owns 12,911 shares of the oil and natural gas company’s stock valued at $1,339,000 after buying an additional 829 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Diamondback Energy by 24.8% in the first quarter. Gulf International Bank UK Ltd now owns 28,675 shares of the oil and natural gas company’s stock valued at $2,974,000 after buying an additional 5,700 shares during the last quarter. Finally, Creative Planning increased its position in shares of Diamondback Energy by 778.0% in the first quarter. Creative Planning now owns 11,712 shares of the oil and natural gas company’s stock valued at $1,215,000 after buying an additional 10,378 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors.
Diamondback Energy, Inc. (FANG) traded up 1.35% during midday trading on Friday, hitting $87.26. The company’s stock had a trading volume of 1,345,657 shares. The firm has a market cap of $8.56 billion, a P/E ratio of 23.99 and a beta of 1.06. The company’s 50 day moving average price is $91.57 and its 200 day moving average price is $97.64. Diamondback Energy, Inc. has a 12 month low of $82.77 and a 12 month high of $114.00.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The company had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. During the same quarter in the previous year, the company earned $0.26 EPS. Diamondback Energy’s revenue for the quarter was up 137.7% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post $4.89 EPS for the current year.
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Several brokerages have commented on FANG. Wells Fargo & Company reaffirmed an “outperform” rating and set a $110.00 target price (down from $125.00) on shares of Diamondback Energy in a report on Saturday, July 22nd. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. BMO Capital Markets set a $110.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, August 12th. Roth Capital set a $130.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Finally, Bank of America Corporation began coverage on Diamondback Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $117.00.
In related news, Director Mark Lawrence Plaumann sold 1,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total transaction of $101,520.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.
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.
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