State of Alaska Department of Revenue grew its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 0.4% in the second quarter, Holdings Channel reports. The institutional investor owned 25,041 shares of the oil and natural gas company’s stock after purchasing an additional 103 shares during the period. State of Alaska Department of Revenue’s holdings in Diamondback Energy were worth $2,727,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Archford Capital Strategies LLC lifted its holdings in Diamondback Energy by 1,100.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Berman Capital Advisors LLC lifted its holdings in Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 188 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in Diamondback Energy during the 1st quarter worth about $34,000. Somerset Trust Co lifted its holdings in Diamondback Energy by 162.6% during the 1st quarter. Somerset Trust Co now owns 617 shares of the oil and natural gas company’s stock worth $63,000 after buying an additional 382 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in Diamondback Energy by 1,043.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 823 shares of the oil and natural gas company’s stock worth $90,000 after buying an additional 751 shares during the last quarter. 99.24% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. Morgan Stanley cut their target price on Diamondback Energy from $151.00 to $143.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. TD Securities lifted their target price on Diamondback Energy from $155.00 to $160.00 and gave the stock an “action list buy” rating in a research report on Thursday, June 20th. Credit Suisse Group assumed coverage on Diamondback Energy in a research report on Monday, June 17th. They set an “outperform” rating and a $135.00 target price on the stock. Raymond James upgraded Diamondback Energy from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 9th. Finally, Northland Securities reiterated a “buy” rating and set a $160.00 target price on shares of Diamondback Energy in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $158.71.
FANG stock traded up $0.09 during trading on Friday, hitting $97.49. The company had a trading volume of 1,994,797 shares, compared to its average volume of 1,094,444. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.68 and a beta of 0.82. Diamondback Energy Inc has a 1-year low of $85.19 and a 1-year high of $140.78. The company has a 50-day simple moving average of $105.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.59 and a current ratio of 0.62.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $893.16 million. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The firm’s revenue for the quarter was up 80.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 EPS. As a group, research analysts forecast that Diamondback Energy Inc will post 7.36 EPS for the current year.
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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