Chartwell Investment Partners LLC cut its position in Diamondback Energy Inc (NASDAQ:FANG) by 45.1% during the first quarter, Holdings Channel reports. The institutional investor owned 57,728 shares of the oil and natural gas company’s stock after selling 47,493 shares during the period. Chartwell Investment Partners LLC’s holdings in Diamondback Energy were worth $5,987,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wexford Capital LP boosted its position in Diamondback Energy by 1.6% in the first quarter. Wexford Capital LP now owns 67,159 shares of the oil and natural gas company’s stock worth $6,966,000 after buying an additional 1,052 shares in the last quarter. L & S Advisors Inc purchased a new stake in shares of Diamondback Energy during the first quarter valued at about $3,159,000. Financial Counselors Inc. purchased a new stake in shares of Diamondback Energy during the first quarter valued at about $905,000. Utah Retirement Systems boosted its stake in shares of Diamondback Energy by 16.2% in the first quarter. Utah Retirement Systems now owns 16,500 shares of the oil and natural gas company’s stock valued at $1,711,000 after buying an additional 2,300 shares during the period. Finally, EULAV Asset Management boosted its stake in shares of Diamondback Energy by 35.2% in the first quarter. EULAV Asset Management now owns 73,000 shares of the oil and natural gas company’s stock valued at $7,571,000 after buying an additional 19,000 shares during the period. 95.51% of the stock is currently owned by institutional investors.
Shares of Diamondback Energy Inc (NASDAQ FANG) traded down 0.97% during trading on Thursday, reaching $87.74. The company’s stock had a trading volume of 1,737,531 shares. Diamondback Energy Inc has a 1-year low of $82.80 and a 1-year high of $114.00. The stock has a 50 day moving average of $99.10 and a 200-day moving average of $102.29. The company has a market capitalization of $8.61 billion, a PE ratio of 1866.81 and a beta of 1.12.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.43. The company had revenue of $235.23 million during the quarter, compared to analysts’ expectations of $218.62 million. Diamondback Energy had a return on equity of 13.09% and a net margin of 59.97%. On average, analysts expect that Diamondback Energy Inc will post $4.70 earnings per share for the current year.
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Several analysts have recently issued reports on FANG shares. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a report on Thursday, February 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $139.00 price objective on shares of Diamondback Energy in a report on Tuesday, February 14th. Wunderlich upped their price objective on Diamondback Energy from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Mizuho reaffirmed a “buy” rating and set a $124.00 price objective on shares of Diamondback Energy in a report on Thursday, February 16th. Finally, TheStreet raised Diamondback Energy from a “c” rating to a “b-” rating in a report on Friday, March 3rd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and an average price target of $118.36.
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $103.01, for a total value of $206,020.00. Following the sale, the vice president now directly owns 74,214 shares of the company’s stock, valued at approximately $7,644,784.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,000 shares of company stock valued at $517,540. 0.35% of the stock is owned by insiders.
About Diamondback Energy
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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