Diamondback Energy Inc (FANG) Holdings Boosted by DNB Asset Management AS

DNB Asset Management AS raised its stake in shares of Diamondback Energy Inc (NASDAQ:FANG) by 8.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,410 shares of the oil and natural gas company’s stock after purchasing an additional 879 shares during the period. DNB Asset Management AS’s holdings in Diamondback Energy were worth $1,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FANG. Captrust Financial Advisors lifted its holdings in Diamondback Energy by 99.8% during the second quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 497 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in Diamondback Energy during the first quarter valued at $187,000. Wedbush Securities Inc. purchased a new position in Diamondback Energy during the second quarter valued at $201,000. Private Advisor Group LLC purchased a new position in Diamondback Energy during the second quarter valued at $204,000. Finally, Redpoint Investment Management Pty Ltd purchased a new position in Diamondback Energy during the second quarter valued at $233,000.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the transaction, the vice president now directly owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by insiders.

FANG has been the topic of several recent analyst reports. Stifel Nicolaus set a $166.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Thursday, July 19th. Jefferies Financial Group set a $181.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday, July 19th. BidaskClub raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. TD Securities began coverage on shares of Diamondback Energy in a research note on Thursday, July 5th. They issued a “buy” rating and a $165.00 price target on the stock. Finally, ValuEngine raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 20th. Four investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $156.07.

Shares of FANG stock opened at $129.51 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. Diamondback Energy Inc has a 12 month low of $98.57 and a 12 month high of $140.78. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 0.81 and a beta of 0.59.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The firm had revenue of $526.30 million for the quarter, compared to analysts’ expectations of $479.57 million. During the same period last year, the firm earned $1.25 earnings per share. Diamondback Energy’s revenue for the quarter was up 95.4% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy Inc will post 6.37 EPS for the current fiscal year.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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