Quantitative Investment Management LLC acquired a new stake in shares of Diamondback Energy Inc (NASDAQ:FANG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 38,400 shares of the oil and natural gas company’s stock, valued at approximately $4,848,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its stake in Diamondback Energy by 42.6% during the 4th quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock valued at $164,000 after purchasing an additional 389 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Diamondback Energy by 476.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock worth $178,000 after acquiring an additional 1,167 shares in the last quarter. KCS Wealth Advisory acquired a new position in shares of Diamondback Energy in the 4th quarter worth approximately $202,000. Dearborn Partners LLC acquired a new position in shares of Diamondback Energy in the 4th quarter worth approximately $208,000. Finally, Calamos Advisors LLC acquired a new position in shares of Diamondback Energy in the 4th quarter worth approximately $212,000.
Shares of Diamondback Energy Inc (FANG) opened at $127.15 on Wednesday. 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 price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91. Diamondback Energy Inc has a 12 month low of $82.77 and a 12 month high of $134.52.
Several research analysts have recently commented on the company. B. Riley assumed coverage on Diamondback Energy in a research report on Monday, February 5th. They issued a “neutral” rating and a $150.00 target price for the company. Morgan Stanley decreased their target price 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 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, February 26th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 target price 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 analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $139.40.
In other Diamondback Energy news, CEO Travis D. Stice sold 35,000 shares of Diamondback Energy stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total transaction of $4,375,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Russell Pantermuehl sold 1,000 shares of Diamondback Energy 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 directly owns 58,966 shares in the company, valued at approximately $6,843,593.96. The disclosure for this sale can be found here. Insiders have sold a total of 192,431 shares of company stock worth $24,001,312 in the last ninety days. 0.41% of the stock is owned by company insiders.
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Diamondback Energy Profile
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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