AT Bancorp Cuts Holdings in Diamondback Energy (FANG)

AT Bancorp decreased its holdings in shares of Diamondback Energy (NASDAQ:FANG) by 2.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 23,899 shares of the oil and natural gas company’s stock after selling 575 shares during the period. AT Bancorp’s holdings in Diamondback Energy were worth $3,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FANG. ClariVest Asset Management LLC increased its position in Diamondback Energy by 14,557.1% during the 1st quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after purchasing an additional 1,019 shares during the period. Signaturefd LLC purchased a new position in Diamondback Energy during the 1st quarter valued at about $132,000. Zions Bancorporation purchased a new position in Diamondback Energy during the 1st quarter valued at about $136,000. Captrust Financial Advisors purchased a new position in Diamondback Energy during the 4th quarter valued at about $149,000. Finally, IFP Advisors Inc increased its position 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 during the period.

NASDAQ:FANG opened at $136.26 on Friday. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 0.69 and a beta of 0.84. Diamondback Energy has a twelve month low of $128.00 and a twelve month high of $130.10. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.05. The company had revenue of $480.20 million for the quarter, compared to the consensus estimate of $445.78 million. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. Diamondback Energy’s revenue was up 104.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. equities research analysts expect that Diamondback Energy will post 6.71 earnings per share for the current year.

The business also recently announced a special dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Monday, May 21st will be given a dividend of $0.125 per share. The ex-dividend date is Friday, May 18th.

In other Diamondback Energy news, CFO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $130.97, for a total transaction of $327,425.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael L. Hollis sold 3,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $118.80, for a total transaction of $356,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,620 shares of company stock worth $1,567,773. 0.41% of the stock is owned by insiders.

A number of brokerages have recently issued reports on FANG. Stephens reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Diamondback Energy in a research report on Tuesday, February 6th. BidaskClub downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Stifel Nicolaus set a $169.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, April 10th. Piper Jaffray reaffirmed a “buy” rating and issued a $141.00 price objective on shares of Diamondback Energy in a research report on Friday, April 6th. Finally, UBS began coverage on shares of Diamondback Energy in a research report on Wednesday, March 7th. They issued a “buy” rating and a $155.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $142.04.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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

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