Driehaus Capital Management LLC boosted its stake in shares of Diamondback Energy Inc (NASDAQ:FANG) by 126.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,084 shares of the oil and natural gas company’s stock after acquiring an additional 5,637 shares during the quarter. Driehaus Capital Management LLC’s holdings in Diamondback Energy were worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of FANG. Carillon Tower Advisers Inc. purchased a new stake in Diamondback Energy during the 4th quarter valued at about $72,286,000. Eagle Asset Management Inc. boosted its holdings in Diamondback Energy by 33.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,263,001 shares of the oil and natural gas company’s stock valued at $126,300,000 after acquiring an additional 318,035 shares during the period. Ascend Capital LLC purchased a new stake in Diamondback Energy during the 4th quarter valued at about $38,957,000. Artisan Partners Limited Partnership boosted its holdings in Diamondback Energy by 15.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,141,967 shares of the oil and natural gas company’s stock valued at $209,827,000 after acquiring an additional 294,048 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Diamondback Energy during the 3rd quarter valued at about $28,064,000.
Diamondback Energy Inc (NASDAQ FANG) opened at $127.15 on Wednesday. Diamondback Energy Inc has a 52-week low of $82.77 and a 52-week high of $134.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.61 and a current ratio of 0.62. The firm has a market capitalization of $12,507.50, a P/E ratio of 23.90, a P/E/G ratio of 0.72 and a beta of 0.91.
In other Diamondback Energy news, CFO Teresa L. Dick sold 10,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $115.84, for a total transaction of $1,158,400.00. Following the sale, the chief financial officer now directly owns 25,760 shares in the company, valued at approximately $2,984,038.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Russell Pantermuehl sold 1,000 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $116.06, for a total value of $116,060.00. Following the sale, the vice president now owns 58,966 shares in the company, valued at $6,843,593.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,431 shares of company stock worth $24,001,312. Company insiders own 0.41% of the company’s stock.
Several brokerages recently weighed in on FANG. B. Riley began coverage on Diamondback Energy in a report on Monday, February 5th. They set a “neutral” rating and a $150.00 target price for the company. Morgan Stanley lowered their price target on Diamondback Energy to $164.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. Piper Jaffray Companies set a $142.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Monday, February 26th. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a research report on Wednesday, January 17th. Finally, BidaskClub lowered Diamondback Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $139.40.
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About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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