Shell Asset Management Co. Has $524,000 Stake in Diamondback Energy, Inc. (FANG)
Shell Asset Management Co. held its position in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,898 shares of the oil and natural gas company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Diamondback Energy were worth $524,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Karp Capital Management Corp acquired a new stake in shares of Diamondback Energy during the first quarter worth approximately $2,207,000. Investment House LLC increased its stake in shares of Diamondback Energy by 228.2% in the first quarter. Investment House LLC now owns 9,845 shares of the oil and natural gas company’s stock worth $1,021,000 after buying an additional 6,845 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Diamondback Energy by 5.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 268,944 shares of the oil and natural gas company’s stock worth $27,894,000 after buying an additional 14,331 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Diamondback Energy during the first quarter worth approximately $201,000. Finally, Nicholas Investment Partners LP increased its stake in shares of Diamondback Energy by 39.4% in the first quarter. Nicholas Investment Partners LP now owns 34,856 shares of the oil and natural gas company’s stock worth $3,615,000 after buying an additional 9,849 shares in the last quarter. 96.31% of the stock is owned by institutional investors.
Diamondback Energy, Inc. (NASDAQ FANG) opened at 90.75 on Tuesday. Diamondback Energy, Inc. has a 1-year low of $82.77 and a 1-year high of $114.00. The company has a 50 day moving average price of $91.56 and a 200 day moving average price of $98.04. The firm has a market cap of $8.91 billion, a PE ratio of 24.95 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.44. The company 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 firm’s revenue was up 137.7% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. On average, equities research analysts forecast that Diamondback Energy, Inc. will post $4.88 earnings per share for the current year.
A number of equities research analysts have recently commented on the company. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $110.00 price objective (down previously from $125.00) on shares of Diamondback Energy in a research report on Saturday, July 22nd. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BMO Capital Markets set a $110.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Saturday. Roth Capital set a $130.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Finally, Bank of America Corporation assumed coverage on Diamondback Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $116.63.
In other news, Director Steven E. West bought 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average cost of $103.45 per share, with a total value of $248,280.00. Following the completion of the transaction, the director now directly owns 2,400 shares in the company, valued at $248,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.
Diamondback Energy Company 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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