Hodges Capital Management Inc. Trims Stake in Diamondback Energy Inc (FANG)

Hodges Capital Management Inc. cut its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,466 shares of the oil and natural gas company’s stock after selling 334 shares during the period. Hodges Capital Management Inc. owned about 0.05% of Diamondback Energy worth $9,083,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Diamondback Energy by 103.8% in the 4th quarter. BlackRock Inc. now owns 10,172,829 shares of the oil and natural gas company’s stock worth $943,023,000 after buying an additional 5,181,063 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Diamondback Energy by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock worth $1,160,994,000 after buying an additional 23,673 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Diamondback Energy by 15.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock worth $1,011,079,000 after buying an additional 984,124 shares during the last quarter. Boston Partners increased its holdings in shares of Diamondback Energy by 135.9% in the 4th quarter. Boston Partners now owns 3,424,654 shares of the oil and natural gas company’s stock worth $317,465,000 after buying an additional 1,973,018 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Diamondback Energy by 28,126.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock worth $32,000 after buying an additional 2,971,317 shares during the last quarter.

In related news, insider Michael L. Hollis bought 5,313 shares of the company’s stock in a transaction on Friday, March 8th. The shares were acquired at an average cost of $95.12 per share, for a total transaction of $505,372.56. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, VP Jennifer Soliman sold 350 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $104.41, for a total transaction of $36,543.50. Following the completion of the transaction, the vice president now owns 2,624 shares in the company, valued at $273,971.84. The disclosure for this sale can be found here. Insiders sold a total of 6,050 shares of company stock worth $626,158 over the last 90 days. Insiders own 0.57% of the company’s stock.

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Diamondback Energy from $147.00 to $154.00 and gave the stock an “overweight” rating in a report on Thursday, February 21st. BidaskClub upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Friday, January 11th. ValuEngine upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Barclays began coverage on shares of Diamondback Energy in a report on Wednesday, January 16th. They set an “overweight” rating and a $189.00 price target on the stock. Finally, Williams Capital reiterated a “buy” rating and set a $153.00 price target on shares of Diamondback Energy in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy has an average rating of “Buy” and an average target price of $158.27.

FANG stock traded down $0.32 during mid-day trading on Monday, reaching $105.96. The company had a trading volume of 1,711,666 shares, compared to its average volume of 1,847,815. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.87. The company has a market capitalization of $17.47 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.62 and a beta of 0.80. Diamondback Energy Inc has a 12 month low of $85.19 and a 12 month high of $140.78.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 EPS for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.41). The company had revenue of $633.06 million during the quarter, compared to the consensus estimate of $663.21 million. Diamondback Energy had a return on equity of 7.83% and a net margin of 38.84%. On average, research analysts expect that Diamondback Energy Inc will post 7.77 EPS for the current fiscal year.

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Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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

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