Eagle Boston Investment Management Inc. acquired a new stake in Diamondback Energy Inc (NASDAQ:FANG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,353 shares of the oil and natural gas company’s stock, valued at approximately $286,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in FANG. IFP Advisors Inc raised its stake in Diamondback Energy by 42.6% during the 4th quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock worth $164,000 after acquiring an additional 389 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Diamondback Energy by 476.3% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock worth $178,000 after acquiring an additional 1,167 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after acquiring an additional 700 shares in the last quarter. KCS Wealth Advisory acquired a new stake in Diamondback Energy during the 4th quarter worth $202,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Diamondback Energy during the 3rd quarter worth $206,000.
Several brokerages recently commented on FANG. B. Riley began coverage on shares of Diamondback Energy in a research note on Monday, February 5th. They set a “neutral” rating and a $150.00 price target on the stock. Morgan Stanley cut their price target on shares of Diamondback Energy to $164.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 price target on the stock in a research note on Wednesday, January 17th. BidaskClub lowered shares of Diamondback Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Deutsche Bank initiated coverage on shares of Diamondback Energy in a research report on Thursday, February 1st. They set a “buy” rating and a $162.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $137.60.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.16. The business had revenue of $399.19 million for the quarter, compared to the consensus estimate of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.74%. sell-side analysts expect that Diamondback Energy Inc will post 6.92 EPS for the current year.
In other news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $111.45, for a total value of $222,900.00. Following the sale, the vice president now owns 63,314 shares of the company’s stock, valued at $7,056,345.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Teresa L. Dick sold 1,000 shares of Diamondback Energy stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $112.13, for a total transaction of $112,130.00. Following the completion of the sale, the chief financial officer now directly owns 30,760 shares in the company, valued at approximately $3,449,118.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,400 shares of company stock worth $8,337,200. Insiders own 0.41% of the company’s stock.
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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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