Chartwell Investment Partners LLC reduced its position in Diamondback Energy Inc (NASDAQ:FANG) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,393 shares of the oil and natural gas company’s stock after selling 1,142 shares during the period. Chartwell Investment Partners LLC owned 0.06% of Diamondback Energy worth $3,697,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Cerebellum GP LLC bought a new stake in Diamondback Energy in the 2nd quarter worth approximately $34,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Diamondback Energy during the first quarter valued at $35,000. Quadrant Capital Group LLC grew its stake in shares of Diamondback Energy by 265.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,724 shares of the oil and natural gas company’s stock worth $155,000 after buying an additional 1,252 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Diamondback Energy by 447.2% in the 2nd quarter. Larson Financial Group LLC now owns 1,773 shares of the oil and natural gas company’s stock worth $74,000 after buying an additional 1,449 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its holdings in shares of Diamondback Energy by 53.1% in the 1st quarter. Atlas Capital Advisors LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $47,000 after buying an additional 623 shares during the last quarter. 96.11% of the stock is owned by institutional investors.
In related news, CFO Hof Matthew Kaes Van’t acquired 1,800 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The stock was purchased at an average cost of $46.92 per share, with a total value of $84,456.00. Following the transaction, the chief financial officer now directly owns 53,930 shares of the company’s stock, valued at approximately $2,530,395.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.47% of the company’s stock.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.16. The company had revenue of $899.00 million for the quarter, compared to analyst estimates of $968.57 million. Diamondback Energy had a positive return on equity of 7.03% and a negative net margin of 1.05%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 EPS. As a group, research analysts forecast that Diamondback Energy Inc will post 2.32 EPS for the current year.
Several equities research analysts have weighed in on the company. Mizuho boosted their price objective on Diamondback Energy from $61.00 to $62.00 in a research note on Friday, June 19th. Susquehanna Bancshares boosted their target price on Diamondback Energy from $42.00 to $50.00 in a research report on Tuesday, May 5th. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James dropped their price objective on shares of Diamondback Energy from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Finally, BMO Capital Markets lowered shares of Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $45.00 target price for the company. in a report on Monday, June 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $66.38.
Diamondback Energy Company 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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