Advisors Asset Management Inc. trimmed its position in Diamondback Energy Inc (NASDAQ:FANG) by 100.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26 shares of the oil and natural gas company’s stock after selling 53,698 shares during the period. Advisors Asset Management Inc.’s holdings in Diamondback Energy were worth $7,154,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. HRT Financial LLC acquired a new position in Diamondback Energy in the second quarter valued at approximately $260,000. Putnam Investments LLC acquired a new position in Diamondback Energy in the second quarter valued at approximately $273,000. Cozad Asset Management Inc. acquired a new position in Diamondback Energy in the second quarter valued at approximately $3,949,000. Millennium Management LLC acquired a new position in Diamondback Energy in the second quarter valued at approximately $3,132,000. Finally, Zurich Insurance Group Ltd FI lifted its holdings in Diamondback Energy by 4,159.7% in the second quarter. Zurich Insurance Group Ltd FI now owns 62,064 shares of the oil and natural gas company’s stock valued at $8,166,000 after acquiring an additional 60,607 shares during the last quarter.

Shares of Diamondback Energy stock traded up $1.49 during trading hours on Friday, reaching $126.12. 1,604,792 shares of the company were exchanged, compared to its average volume of 1,644,915. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $13.33 billion, a P/E ratio of 23.80, a P/E/G ratio of 0.81 and a beta of 0.59. Diamondback Energy Inc has a 1 year low of $98.57 and a 1 year high of $140.78.

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). The firm had revenue of $526.30 million for the quarter, compared to analyst estimates of $479.57 million. Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The business’s revenue for the quarter was up 95.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. Sell-side analysts predict that Diamondback Energy Inc will post 6.37 earnings per share for the current year.

In related news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the transaction, the vice president now owns 89,532 shares in the company, valued at $11,442,189.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael L. Hollis sold 5,000 shares of the business’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,140 shares of company stock valued at $916,735. Insiders own 0.57% of the company’s stock.

A number of research analysts recently commented on the company. BidaskClub cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Oppenheimer assumed coverage on Diamondback Energy in a report on Wednesday, October 3rd. They issued an “outperform” rating and a $166.00 price objective on the stock. Morgan Stanley boosted their target price on Diamondback Energy from $164.00 to $168.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Stifel Nicolaus set a $166.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, Williams Capital set a $165.00 target price on Diamondback Energy and gave the company a “hold” rating in a research report on Wednesday, August 15th. Four research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $154.83.

About Diamondback Energy

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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