Zimmer Partners LP cut its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 862,500 shares of the oil and natural gas company’s stock after selling 126,340 shares during the period. Diamondback Energy makes up about 2.7% of Zimmer Partners LP’s investment portfolio, making the stock its 11th largest holding. Zimmer Partners LP owned about 0.88% of Diamondback Energy worth $108,891,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Diamondback Energy during the fourth quarter worth approximately $149,000. IFP Advisors Inc lifted its position in Diamondback Energy by 42.6% in the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock worth $164,000 after purchasing an additional 389 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in Diamondback Energy by 476.3% in the fourth 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 purchasing an additional 1,167 shares during the period. KCS Wealth Advisory acquired a new stake in Diamondback Energy in the fourth quarter worth approximately $202,000. Finally, Dearborn Partners LLC acquired a new stake in Diamondback Energy in the fourth quarter worth approximately $208,000.
In other news, VP Russell Pantermuehl sold 1,000 shares of the company’s 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 transaction, the vice president now directly owns 58,966 shares of the company’s stock, valued at $6,843,593.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Teresa L. Dick sold 10,000 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 25,760 shares in the company, valued at $2,984,038.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,431 shares of company stock worth $24,001,312. Company insiders own 0.41% of the company’s stock.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. The company had revenue of $399.19 million for the quarter, compared to the consensus estimate of $370.74 million. equities research analysts anticipate that Diamondback Energy Inc will post 6.83 earnings per share for the current year.
A number of research firms have weighed in on FANG. ValuEngine downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. UBS Group began coverage on Diamondback Energy in a research report on Wednesday, March 7th. They issued a “buy” rating and a $155.00 target price for the company. BidaskClub upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Piper Jaffray Companies set a $142.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus set a $149.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $139.40.
ILLEGAL ACTIVITY NOTICE: This piece was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2018/03/14/zimmer-partners-lp-has-108-89-million-stake-in-diamondback-energy-inc-fang.html.
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.
Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy Inc (NASDAQ:FANG).
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.