AMI Asset Management Corp Sells 6,260 Shares of Diamondback Energy Inc (FANG)
AMI Asset Management Corp lowered its position in Diamondback Energy Inc (NASDAQ:FANG) by 4.1% during the 4th quarter, HoldingsChannel reports. The fund owned 146,766 shares of the oil and natural gas company’s stock after selling 6,260 shares during the period. AMI Asset Management Corp’s holdings in Diamondback Energy were worth $18,529,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its holdings in Diamondback Energy by 46.7% in the second 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 in the last quarter. KCS Wealth Advisory bought a new position in Diamondback Energy in the fourth quarter worth approximately $202,000. Crossmark Global Holdings Inc. bought a new position in Diamondback Energy in the third quarter worth approximately $206,000. Commerce Bank bought a new position in Diamondback Energy in the third quarter worth approximately $208,000. Finally, Sentry Investment Management LLC bought a new position in Diamondback Energy in the second quarter worth approximately $215,000.
Shares of Diamondback Energy Inc (NASDAQ FANG) traded down $2.12 on Tuesday, hitting $128.02. The company had a trading volume of 1,002,394 shares, compared to its average volume of 1,274,440. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $12,560.00, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 0.74 and a beta of 1.08. Diamondback Energy Inc has a one year low of $82.77 and a one year high of $132.07.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.31. The company had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. Diamondback Energy’s revenue was up 112.0% on a year-over-year basis. During the same period last year, the business posted ($0.03) earnings per share. sell-side analysts anticipate that Diamondback Energy Inc will post 5.08 EPS for the current year.
Several brokerages have issued reports on FANG. Piper Jaffray Companies reiterated a “buy” rating and issued a $138.00 price target on shares of Diamondback Energy in a report on Tuesday, January 9th. Barclays reiterated a “buy” rating and issued a $138.00 price target on shares of Diamondback Energy in a report on Sunday, December 24th. BidaskClub upgraded Diamondback Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Credit Suisse Group began coverage on Diamondback Energy in a report on Monday, December 11th. They issued an “outperform” rating and a $123.00 price target on the stock. Finally, Northland Securities set a $120.00 price target on Diamondback Energy and gave the stock a “buy” rating in a report on Monday, December 11th. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $125.42.
In related news, CEO Travis D. Stice sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total transaction of $4,375,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael L. Hollis sold 2,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. The disclosure for this sale can be found here. Insiders have sold 76,400 shares of company stock valued at $9,156,330 over the last ninety days. 0.41% of the stock is currently owned by company insiders.
Diamondback Energy Company Profile
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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