World Asset Management Inc increased its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,817 shares of the oil and natural gas company’s stock after acquiring an additional 248 shares during the quarter. World Asset Management Inc’s holdings in Diamondback Energy were worth $961,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Mountain Pacific Investment Advisers Inc. ID acquired a new position in Diamondback Energy in the 2nd quarter valued at $204,000. State of Alaska Department of Revenue grew its holdings in Diamondback Energy by 0.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 25,041 shares of the oil and natural gas company’s stock valued at $2,727,000 after buying an additional 103 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Diamondback Energy by 13.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,375 shares of the oil and natural gas company’s stock valued at $368,000 after buying an additional 392 shares in the last quarter. Whittier Trust Co. grew its holdings in Diamondback Energy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 19,726 shares of the oil and natural gas company’s stock valued at $2,150,000 after buying an additional 815 shares in the last quarter. Finally, Perella Weinberg Partners Capital Management LP grew its holdings in shares of Diamondback Energy by 3.5% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 411,510 shares of the oil and natural gas company’s stock worth $44,842,000 after purchasing an additional 13,955 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.
Diamondback Energy stock traded up $0.55 during trading hours on Friday, hitting $97.95. The stock had a trading volume of 95,225 shares, compared to its average volume of 1,050,032. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $16.93 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.68 and a beta of 0.85. Diamondback Energy Inc has a one year low of $85.19 and a one year high of $140.78. The business has a 50 day moving average of $105.30.
Several analysts have recently issued reports on FANG shares. MKM Partners started coverage on Diamondback Energy in a report on Friday, June 28th. They set a “buy” rating on the stock. Williams Capital reissued a “buy” rating and set a $165.00 target price on shares of Diamondback Energy in a report on Tuesday. Royal Bank of Canada started coverage on Diamondback Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $156.00 target price on the stock. KeyCorp increased their target price on Diamondback Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, TD Securities increased their target price on Diamondback Energy from $155.00 to $160.00 and gave the stock an “action list buy” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $158.71.
In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $112.18, for a total value of $560,900.00. Following the completion of the transaction, the vice president now directly owns 117,107 shares in the company, valued at $13,137,063.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.47, for a total value of $161,205.00. Following the completion of the transaction, the chief financial officer now owns 27,465 shares of the company’s stock, valued at $2,951,663.55. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $1,258,505 over the last quarter. Corporate insiders own 0.47% of the company’s stock.
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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