Wells Fargo & Company MN Sells 45,283 Shares of Diamondback Energy Inc (FANG)
Wells Fargo & Company MN decreased its position in Diamondback Energy Inc (NASDAQ:FANG) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 668,875 shares of the oil and natural gas company’s stock after selling 45,283 shares during the period. Wells Fargo & Company MN owned 0.68% of Diamondback Energy worth $65,522,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in FANG. Johnson Financial Group Inc. bought a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $102,000. Cubist Systematic Strategies LLC boosted its stake in shares of Diamondback Energy by 46.7% during 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 acquiring an additional 700 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $206,000. Commerce Bank bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $208,000. Finally, Sentry Investment Management LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth approximately $215,000.
Diamondback Energy Inc (NASDAQ FANG) opened at $108.95 on Friday. Diamondback Energy Inc has a twelve month low of $82.77 and a twelve month high of $114.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45. The company has a market capitalization of $10,690.00, a price-to-earnings ratio of 23.35, a PEG ratio of 0.79 and a beta of 1.09.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company had revenue of $301.30 million for the quarter, compared to the consensus estimate of $296.53 million. During the same quarter last year, the business posted ($0.03) earnings per share. The firm’s revenue was up 112.0% compared to the same quarter last year. research analysts anticipate that Diamondback Energy Inc will post 5.02 EPS for the current fiscal year.
FANG has been the subject of several research reports. US Capital Advisors reissued a “buy” rating on shares of Diamondback Energy in a report on Monday, October 2nd. Northland Securities reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Diamondback Energy in a report on Thursday, September 14th. KeyCorp reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Diamondback Energy in a report on Wednesday, September 6th. Finally, BMO Capital Markets set a $110.00 price target on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $126.88.
In other news, CFO Teresa L. Dick sold 5,000 shares of the firm’s stock in a transaction dated 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 $3,550,450.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Russell Pantermuehl sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total value of $387,560.00. Following the transaction, the vice president now directly owns 70,214 shares in the company, valued at $6,803,034.46. The disclosure for this sale can be found here. Insiders have sold 26,400 shares of company stock worth $2,753,230 in the last 90 days. Company 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.
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