AGF Management Ltd. Increases Position in Diamondback Energy, Inc. $FANG

AGF Management Ltd. grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 19.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,671 shares of the oil and natural gas company’s stock after purchasing an additional 3,405 shares during the period. AGF Management Ltd.’s holdings in Diamondback Energy were worth $2,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Diamondback Energy by 106.3% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 102 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the second quarter worth $29,000. Salomon & Ludwin LLC acquired a new stake in Diamondback Energy in the 3rd quarter valued at about $31,000. Finally, Estabrook Capital Management purchased a new position in Diamondback Energy in the second quarter worth approximately $41,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the topic of several research analyst reports. Citigroup cut their target price on Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Mizuho reduced their target price on shares of Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating for the company in a report on Thursday, January 22nd. Wells Fargo & Company upped their price target on Diamondback Energy from $169.00 to $171.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Morgan Stanley reduced their price objective on shares of Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Finally, Sanford C. Bernstein lowered their price target on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $185.90.

Diamondback Energy Trading Up 3.8%

NASDAQ FANG opened at $168.99 on Thursday. The company’s 50 day moving average price is $153.08 and its 200 day moving average price is $146.83. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $169.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The firm has a market capitalization of $48.40 billion, a price-to-earnings ratio of 11.74 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.94 by $0.14. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The company’s revenue was up 48.4% on a year-over-year basis. During the same period last year, the business posted $3.19 EPS. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 377,911 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director directly owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.