Amalgamated Bank increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 37.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,803 shares of the oil and natural gas company’s stock after purchasing an additional 4,813 shares during the period. Amalgamated Bank’s holdings in Diamondback Energy were worth $1,581,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Karp Capital Management Corp bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $2,207,000. Investment House LLC lifted its holdings in shares of Diamondback Energy by 228.2% in the 1st quarter. Investment House LLC now owns 9,845 shares of the oil and natural gas company’s stock worth $1,021,000 after purchasing an additional 6,845 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $201,000. Harbour Capital Advisors LLC lifted its holdings in shares of Diamondback Energy by 8,536.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock worth $8,637,000 after purchasing an additional 758,170 shares during the last quarter. Finally, Nicholas Investment Partners LP lifted its holdings in shares of Diamondback Energy by 39.4% in the 1st quarter. Nicholas Investment Partners LP now owns 34,856 shares of the oil and natural gas company’s stock worth $3,615,000 after purchasing an additional 9,849 shares during the last quarter.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.44. The firm had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business’s revenue for the quarter was up 137.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS.
In other news, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the transaction, the vice president now directly owns 4,950 shares in the company, valued at approximately $438,025.50. The disclosure for this sale can be found here. In the last three months, insiders sold 1,805 shares of company stock worth $166,741. 0.41% of the stock is currently owned by company insiders.
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Several brokerages have weighed in on FANG. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $141.00 target price on shares of Diamondback Energy in a research note on Thursday, May 25th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Diamondback Energy in a research note on Friday, May 26th. Roth Capital lifted their target price on Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, BMO Capital Markets set a $100.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $115.87.
Diamondback Energy 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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