HBK Sorce Advisory LLC Takes Position in Diamondback Energy Inc (FANG)

HBK Sorce Advisory LLC acquired a new position in shares of Diamondback Energy Inc (NASDAQ:FANG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,018 shares of the oil and natural gas company’s stock, valued at approximately $273,000.

Other hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in Diamondback Energy in the 3rd quarter worth about $100,000. Bray Capital Advisors acquired a new position in Diamondback Energy in the 3rd quarter worth about $116,000. First Hawaiian Bank acquired a new position in Diamondback Energy in the 3rd quarter worth about $121,000. Captrust Financial Advisors increased its holdings in Diamondback Energy by 99.8% in the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after purchasing an additional 497 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Diamondback Energy by 93.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,217 shares of the oil and natural gas company’s stock worth $165,000 after purchasing an additional 588 shares in the last quarter.

In other news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the sale, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.57% of the company’s stock.



A number of brokerages have issued reports on FANG. Williams Capital reaffirmed a “buy” rating and issued a $153.00 target price on shares of Diamondback Energy in a report on Wednesday. Citigroup reaffirmed a “buy” rating and issued a $155.00 target price on shares of Diamondback Energy in a report on Tuesday, December 11th. Stephens began coverage on Diamondback Energy in a report on Thursday, December 6th. They issued an “overweight” rating and a $177.00 target price for the company. Jefferies Financial Group began coverage on Diamondback Energy in a report on Monday, December 3rd. They issued a “buy” rating and a $177.00 target price for the company. Finally, Cowen began coverage on Diamondback Energy in a report on Thursday, November 29th. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $159.41.

Shares of FANG stock opened at $92.71 on Friday. The stock has a market capitalization of $9.39 billion, a PE ratio of 14.35, a P/E/G ratio of 0.52 and a beta of 0.72. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. Diamondback Energy Inc has a 1-year low of $91.84 and a 1-year high of $140.78.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.15. The company had revenue of $538.03 million during the quarter, compared to analysts’ expectations of $518.32 million. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%. The business’s quarterly revenue was up 78.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. As a group, research analysts predict that Diamondback Energy Inc will post 6.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 19th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, November 16th. This represents a $0.50 annualized dividend and a dividend yield of 0.54%. Diamondback Energy’s payout ratio is 9.43%.

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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 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.

See Also: Cost of equity and a company’s balance sheet

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

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