Ladenburg Thalmann Financial Services Inc. Lowers Stake in Diamondback Energy Inc (FANG)

Ladenburg Thalmann Financial Services Inc. trimmed its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 77.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,488 shares of the oil and natural gas company’s stock after selling 32,254 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Diamondback Energy were worth $929,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at about $102,000. Cubist Systematic Strategies LLC increased its stake in Diamondback Energy by 46.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after purchasing an additional 700 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $206,000. Commerce Bank bought a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $208,000. Finally, Sentry Investment Management LLC bought a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $215,000.

In other Diamondback Energy news, CFO Teresa L. Dick sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $115.84, for a total value of $1,158,400.00. Following the completion of the transaction, the chief financial officer now owns 25,760 shares in the company, valued at $2,984,038.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 34,400 shares of company stock worth $3,836,210. 0.41% of the stock is owned by corporate insiders.

Shares of Diamondback Energy Inc (FANG) opened at $123.10 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. Diamondback Energy Inc has a twelve month low of $82.77 and a twelve month high of $123.55. The stock has a market capitalization of $10,976.08, a PE ratio of 23.94, a P/E/G ratio of 0.80 and a beta of 1.09.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. The firm had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The business’s revenue for the quarter was up 112.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. equities research analysts anticipate that Diamondback Energy Inc will post 5.06 earnings per share for the current year.

A number of brokerages have issued reports on FANG. Barclays lifted their price objective on Diamondback Energy from $105.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 11th. Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Jefferies Group assumed coverage on Diamondback Energy in a research report on Monday, October 9th. They set a “buy” rating and a $124.00 price objective for the company. Citigroup assumed coverage on Diamondback Energy in a research report on Friday, December 1st. They set a “buy” rating and a $130.00 price objective for the company. Finally, Northland Securities reissued a “buy” rating and set a $125.00 price target on shares of Diamondback Energy in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $124.54.

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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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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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