Diamondback Energy, Inc. $FANG Shares Bought by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Diamondback Energy stake by 46.5% in the first quarter, purchasing 39,986 additional shares for a total holding of 125,989 shares valued at approximately $24.9 million.
• Diamondback Energy exceeded first-quarter expectations, reporting $4.23 in EPS versus the $3.74 consensus estimate and $4.24 billion in revenue, up 4.7% year over year.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Buy” rating and an average price target of $218.63; however, company insiders sold roughly $21.6 million of shares over the past three months.

Quantinno Capital Management LP grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 46.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,989 shares of the oil and natural gas company's stock after purchasing an additional 39,986 shares during the period. Quantinno Capital Management LP's holdings in Diamondback Energy were worth $24,919,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC acquired a new position in shares of Diamondback Energy in the 1st quarter valued at $26,000. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter valued at $26,000. Richardson Financial Services Inc. increased its holdings in Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock valued at $26,000 after buying an additional 125 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new position in Diamondback Energy in the third quarter valued at $26,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $202.95 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The stock has a market capitalization of $57.09 billion, a PE ratio of 235.99 and a beta of 0.42. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The company has a fifty day moving average of $190.79 and a two-hundred day moving average of $184.39.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the company posted $4.54 EPS. Diamondback Energy's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Diamondback Energy, Inc. will post 18.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Mizuho increased their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Susquehanna lifted their price target on Diamondback Energy from $245.00 to $255.00 and gave the company a "positive" rating in a research note on Tuesday, July 21st. Citigroup cut their price target on Diamondback Energy from $245.00 to $221.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Wells Fargo & Company set a $212.00 price target on Diamondback Energy in a report on Monday, June 22nd. Finally, Morgan Stanley lowered their price target on Diamondback Energy from $229.00 to $216.00 and set an "overweight" rating on the stock in a research report on Monday, June 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $218.63.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the transaction, the executive vice president owned 46,392 shares of the company's stock, valued at $9,303,451.68. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Alvin Meloy sold 83,334 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares in the company, valued at approximately $159,338,293.60. This trade represents a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 113,691 shares of company stock worth $21,622,752 over the last three months. 0.64% of the stock is owned by insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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