Diamondback Energy, Inc. $FANG Stock Holdings Raised by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Diamondback Energy position by 13.6% in the third quarter, bringing its holdings to 90,088 shares worth approximately $16.6 million. Institutional investors collectively own 90.01% of FANG.
• Diamondback reported quarterly earnings of $6.48 per share, beating estimates of $6.08, while revenue rose 51.2% year over year to $5.56 billion. Analysts expect full-year EPS of about $21.49.
• FANG shares opened at $212.08, near their 52-week high of $216.90, while analysts maintained a “Moderate Buy” consensus with an average price target of $228.43; company insiders sold roughly $28.1 million in stock over the past three months.

Asset Management One Co. Ltd. lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,088 shares of the oil and natural gas company's stock after purchasing an additional 10,811 shares during the period. Asset Management One Co. Ltd.'s holdings in Diamondback Energy were worth $16,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FANG. Balance Wealth Partners LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter worth about $193,000. Independence Bank of Kentucky lifted its position in Diamondback Energy by 1.0% during the third quarter. Independence Bank of Kentucky now owns 5,217 shares of the oil and natural gas company's stock worth $959,000 after acquiring an additional 50 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Diamondback Energy by 8.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,474 shares of the oil and natural gas company's stock worth $455,000 after buying an additional 195 shares during the period. Verdence Capital Advisors LLC increased its position in Diamondback Energy by 6.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 46,696 shares of the oil and natural gas company's stock worth $8,583,000 after buying an additional 2,808 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new stake in shares of Diamondback Energy during the third quarter worth $1,289,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

FANG stock opened at $212.08 on Friday. The company has a market capitalization of $59.39 billion, a P/E ratio of 41.34 and a beta of 0.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. Diamondback Energy, Inc. has a 52-week low of $137.03 and a 52-week high of $216.90. The company has a fifty day moving average price of $197.38 and a 200-day moving average price of $189.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating analysts' consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.38 EPS. As a group, equities analysts expect that Diamondback Energy, Inc. will post 21.49 EPS for the current year.

Insider Transactions at Diamondback Energy

In other news, Director Charles Meloy sold 33,333 shares of the firm's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the completion of the sale, the director directly owned 759,864 shares in the company, valued at $139,617,411.36. This trade represents a 4.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis Stice sold 75,000 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $204.31, for a total value of $15,323,250.00. Following the transaction, the director directly owned 49,727 shares in the company, valued at approximately $10,159,723.37. This trade represents a 60.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 141,666 shares of company stock worth $28,061,456 in the last three months. Insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FANG shares. Capital One Financial boosted their target price on shares of Diamondback Energy from $272.00 to $283.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Stephens reissued an "outperform" rating on shares of Diamondback Energy in a research report on Tuesday, October 13th. JPMorgan Chase & Co. raised their price objective on Diamondback Energy from $211.00 to $233.00 in a research note on Wednesday, August 5th. Morgan Stanley lifted their price objective on Diamondback Energy from $216.00 to $222.00 and gave the company an "equal weight" rating in a report on Thursday, October 15th. Finally, BMO Capital Markets lifted their price objective on Diamondback Energy from $215.00 to $224.00 and gave the company an "outperform" rating in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $228.43.

Diamondback Energy Profile

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company's operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.