Sciencast Management LP reduced its stake in shares of Diamondback Energy Inc (NASDAQ:FANG) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the oil and natural gas company’s stock after selling 651 shares during the quarter. Sciencast Management LP’s holdings in Diamondback Energy were worth $388,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its position in shares of Diamondback Energy by 4.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 26,618 shares of the oil and natural gas company’s stock worth $697,000 after purchasing an additional 1,120 shares in the last quarter. State Street Corp lifted its position in Diamondback Energy by 10.1% in the 1st quarter. State Street Corp now owns 9,249,613 shares of the oil and natural gas company’s stock worth $242,340,000 after buying an additional 848,568 shares in the last quarter. IBM Retirement Fund acquired a new stake in shares of Diamondback Energy during the 2nd quarter valued at $207,000. Parametric Portfolio Associates LLC grew its holdings in shares of Diamondback Energy by 203.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,006,393 shares of the oil and natural gas company’s stock valued at $26,367,000 after acquiring an additional 674,990 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Diamondback Energy by 367.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 67,400 shares of the oil and natural gas company’s stock valued at $1,766,000 after acquiring an additional 52,968 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.
In related news, CFO Hof Matthew Kaes Van’t bought 1,800 shares of the company’s stock in a transaction dated Friday, June 19th. The stock was acquired at an average cost of $46.92 per share, with a total value of $84,456.00. Following the acquisition, the chief financial officer now owns 53,930 shares in the company, valued at approximately $2,530,395.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by insiders.
Shares of NASDAQ FANG opened at $39.86 on Friday. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.78 and a beta of 2.21. Diamondback Energy Inc has a one year low of $14.55 and a one year high of $105.95. The business has a fifty day simple moving average of $42.10 and a 200 day simple moving average of $48.73. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.16. Diamondback Energy had a negative net margin of 1.05% and a positive return on equity of 7.03%. The firm had revenue of $899.00 million for the quarter, compared to analyst estimates of $968.57 million. During the same quarter in the previous year, the firm posted $1.39 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy Inc will post 2.32 earnings per share for the current fiscal year.
A number of analysts recently issued reports on FANG shares. Scotiabank lifted their price objective on Diamondback Energy from $40.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Monday, July 13th. KeyCorp reduced their price target on Diamondback Energy from $77.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, July 17th. BMO Capital Markets downgraded Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $45.00 price objective on the stock. in a report on Monday, June 29th. Mizuho lifted their target price on shares of Diamondback Energy from $61.00 to $62.00 in a research note on Friday, June 19th. Finally, Barclays boosted their target price on shares of Diamondback Energy from $34.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $66.38.
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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