State of Alaska Department of Revenue grew its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 15.8% in the third quarter, Holdings Channel reports. The institutional investor owned 29,008 shares of the oil and natural gas company’s stock after purchasing an additional 3,967 shares during the period. State of Alaska Department of Revenue’s holdings in Diamondback Energy were worth $2,608,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FANG. Archford Capital Strategies LLC lifted its holdings in shares of Diamondback Energy by 1,100.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $32,000. Commonwealth Bank of Australia lifted its holdings in shares of Diamondback Energy by 81.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 152 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $44,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $54,000. 99.17% of the stock is owned by institutional investors.

FANG stock traded up $0.20 during trading on Wednesday, hitting $81.02. The company had a trading volume of 17,088 shares, compared to its average volume of 1,796,947. The firm has a market cap of $13.93 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 0.43 and a beta of 0.77. Diamondback Energy Inc has a 1-year low of $80.76 and a 1-year high of $136.47. The firm has a 50-day moving average price of $94.51 and a 200-day moving average price of $101.25. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.04). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The business’s revenue was up 93.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 EPS. Sell-side analysts anticipate that Diamondback Energy Inc will post 7.02 earnings per share for the current year.

In related news, EVP Randall J. Holder sold 3,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $100.00, for a total value of $300,000.00. Following the transaction, the executive vice president now owns 11,448 shares in the company, valued at approximately $1,144,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Travis D. Stice purchased 4,186 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $95.55 per share, for a total transaction of $399,972.30. The disclosure for this purchase can be found here. Insiders sold a total of 16,000 shares of company stock worth $1,621,690 in the last 90 days. 0.47% of the stock is currently owned by insiders.

Several analysts have recently weighed in on FANG shares. MKM Partners started coverage on Diamondback Energy in a report on Friday, June 28th. They issued a “buy” rating for the company. TD Securities downgraded Diamondback Energy from an “action list buy” rating to a “buy” rating and set a $155.00 target price for the company. in a report on Friday, September 6th. Wells Fargo & Co reduced their target price on Diamondback Energy from $171.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Williams Capital reissued a “buy” rating and issued a $165.00 target price on shares of Diamondback Energy in a report on Tuesday, July 30th. Finally, Citigroup reduced their target price on Diamondback Energy from $135.00 to $118.00 and set a “buy” rating for the company in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $149.05.

Diamondback Energy Profile

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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