Neuberger Berman Group LLC Raises Position in Diamondback Energy Inc (FANG)

Neuberger Berman Group LLC boosted its stake in Diamondback Energy Inc (NASDAQ:FANG) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,510 shares of the oil and natural gas company’s stock after buying an additional 1,813 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.13% of Diamondback Energy worth $12,785,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Piedmont Investment Advisors LLC purchased a new position in Diamondback Energy in the 3rd quarter valued at about $483,000. California Public Employees Retirement System raised its holdings in Diamondback Energy by 2.6% in the 3rd quarter. California Public Employees Retirement System now owns 186,161 shares of the oil and natural gas company’s stock valued at $18,236,000 after acquiring an additional 4,661 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Diamondback Energy by 139.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,546 shares of the oil and natural gas company’s stock valued at $1,817,000 after acquiring an additional 10,806 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Diamondback Energy by 350.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 9,920 shares of the oil and natural gas company’s stock valued at $972,000 after acquiring an additional 7,720 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Diamondback Energy by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 10,972 shares of the oil and natural gas company’s stock valued at $1,075,000 after acquiring an additional 600 shares during the last quarter.

Shares of Diamondback Energy Inc (FANG) opened at $124.37 on Tuesday. The stock has a market cap of $12,330.00, a P/E ratio of 30.11, a PEG ratio of 0.88 and a beta of 1.09. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22. Diamondback Energy Inc has a 1-year low of $82.77 and a 1-year high of $125.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.31. The business had revenue of $301.30 million during the quarter, compared to the consensus estimate 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 was up 112.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS. research analysts forecast that Diamondback Energy Inc will post 5.06 earnings per share for the current fiscal year.

FANG has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a report on Monday, October 9th. KeyCorp reiterated an “overweight” rating and issued a $125.00 price objective (up previously from $117.00) on shares of Diamondback Energy in a report on Tuesday, November 7th. US Capital Advisors reiterated a “buy” rating on shares of Diamondback Energy in a report on Monday, October 2nd. Goldman Sachs Group downgraded shares of Diamondback Energy from a “conviction-buy” rating to a “buy” rating and increased their price objective for the company from $106.53 to $118.00 in a report on Friday, November 17th. Finally, Citigroup initiated coverage on shares of Diamondback Energy in a report on Friday, December 1st. They issued a “buy” rating and a $130.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $124.58.

In related news, insider Michael L. Hollis sold 2,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $102.44, for a total transaction of $204,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Teresa L. Dick sold 5,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $111.79, for a total transaction of $558,950.00. Following the transaction, the chief financial officer now directly owns 31,760 shares of the company’s stock, valued at approximately $3,550,450.40. The disclosure for this sale can be found here. Insiders have sold a total of 34,400 shares of company stock valued at $3,836,210 in the last 90 days. Insiders own 0.41% of the company’s stock.

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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.

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

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