Morningstar Investment Services LLC Acquires Shares of 127,750 Diamondback Energy Inc (NASDAQ:FANG)

Morningstar Investment Services LLC acquired a new stake in Diamondback Energy Inc (NASDAQ:FANG) during the second quarter, according to its most recent filing with the SEC. The firm acquired 127,750 shares of the oil and natural gas company’s stock, valued at approximately $5,293,000. Morningstar Investment Services LLC owned about 0.08% of Diamondback Energy as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FANG. Ladenburg Thalmann Financial Services Inc. boosted its position in Diamondback Energy by 9.4% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,585 shares of the oil and natural gas company’s stock valued at $560,000 after buying an additional 566 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Diamondback Energy by 2.0% in the 4th quarter. Macquarie Group Ltd. now owns 220,869 shares of the oil and natural gas company’s stock worth $20,510,000 after purchasing an additional 4,384 shares during the last quarter. Norges Bank bought a new position in shares of Diamondback Energy in the 4th quarter worth $139,421,000. Quadrant Capital Group LLC boosted its position in shares of Diamondback Energy by 265.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,724 shares of the oil and natural gas company’s stock worth $155,000 after purchasing an additional 1,252 shares during the last quarter. Finally, Global Trust Asset Management LLC boosted its position in shares of Diamondback Energy by 113.9% in the 1st quarter. Global Trust Asset Management LLC now owns 2,749 shares of the oil and natural gas company’s stock worth $65,000 after purchasing an additional 1,464 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t purchased 1,800 shares of Diamondback Energy stock in a transaction that occurred on Friday, June 19th. The stock was acquired at an average price of $46.92 per share, for a total transaction of $84,456.00. Following the completion of the acquisition, the chief financial officer now owns 53,930 shares of the company’s stock, valued at approximately $2,530,395.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by company insiders.

Shares of NASDAQ FANG traded up $0.35 during mid-day trading on Friday, hitting $39.86. The company had a trading volume of 2,380,841 shares, compared to its average volume of 2,093,514. The company has a market capitalization of $6.29 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 0.78 and a beta of 2.21. The firm has a 50-day simple moving average of $42.10 and a two-hundred day simple moving average of $48.73. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. Diamondback Energy Inc has a one year low of $14.55 and a one year high of $105.95.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.16. The company had revenue of $899.00 million during the quarter, compared to analysts’ expectations of $968.57 million. Diamondback Energy had a positive return on equity of 7.03% and a negative net margin of 1.05%. Diamondback Energy’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 EPS. Sell-side analysts expect that Diamondback Energy Inc will post 2.32 earnings per share for the current fiscal year.

Several brokerages recently commented on FANG. Imperial Capital dropped their price objective on Diamondback Energy from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 16th. KeyCorp dropped their price objective on Diamondback Energy from $77.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. BMO Capital Markets downgraded Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $45.00 price objective on the stock. in a research note on Monday, June 29th. ValuEngine raised Diamondback Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Finally, Citigroup raised their price objective on Diamondback Energy from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.38.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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

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