Hodges Capital Management Inc. lessened its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,466 shares of the oil and natural gas company’s stock after selling 334 shares during the quarter. Hodges Capital Management Inc.’s holdings in Diamondback Energy were worth $9,083,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. TIAA FSB grew its position in Diamondback Energy by 144.4% during the first quarter. TIAA FSB now owns 74,586 shares of the oil and natural gas company’s stock valued at $7,573,000 after buying an additional 44,065 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Diamondback Energy during the first quarter valued at $313,000. Sciencast Management LP grew its position in Diamondback Energy by 108.5% during the first quarter. Sciencast Management LP now owns 8,550 shares of the oil and natural gas company’s stock valued at $888,000 after buying an additional 4,450 shares during the period. Viking Fund Management LLC grew its position in Diamondback Energy by 39.2% during the first quarter. Viking Fund Management LLC now owns 110,000 shares of the oil and natural gas company’s stock valued at $11,168,000 after buying an additional 31,000 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in Diamondback Energy by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the oil and natural gas company’s stock valued at $833,000 after buying an additional 100 shares during the period.
FANG traded down $0.32 during midday trading on Monday, hitting $105.96. 1,711,666 shares of the company traded hands, compared to its average volume of 1,847,815. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 0.62 and a beta of 0.80. Diamondback Energy Inc has a 52-week low of $85.19 and a 52-week high of $140.78.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 19th. The oil and natural gas company reported $1.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.41). The company had revenue of $633.06 million for the quarter, compared to analysts’ expectations of $663.21 million. Diamondback Energy had a net margin of 38.84% and a return on equity of 7.83%. On average, research analysts forecast that Diamondback Energy Inc will post 7.77 EPS for the current year.
Several analysts recently commented on the stock. ValuEngine lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Northland Securities restated a “buy” rating and set a $150.00 price target on shares of Diamondback Energy in a research report on Friday, March 29th. Morgan Stanley dropped their price target on shares of Diamondback Energy from $154.00 to $144.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Wells Fargo & Co raised their price target on shares of Diamondback Energy from $161.00 to $177.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $148.00 price objective on shares of Diamondback Energy in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and an average price target of $158.27.
In other news, VP Jennifer Soliman sold 350 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $104.41, for a total value of $36,543.50. Following the transaction, the vice president now directly owns 2,624 shares of the company’s stock, valued at $273,971.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Randall J. Holder sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $104.13, for a total transaction of $416,520.00. Following the completion of the transaction, the insider now directly owns 14,448 shares in the company, valued at $1,504,470.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,050 shares of company stock worth $626,158. Insiders own 0.57% of the company’s stock.
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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 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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