Janus Capital Management LLC Has $3.32 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)
Janus Capital Management LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 58.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,000 shares of the oil and natural gas company’s stock after selling 44,900 shares during the period. Janus Capital Management LLC’s holdings in Diamondback Energy were worth $3,319,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Diamondback Energy by 5,554.4% in the first quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock worth $488,205,000 after buying an additional 4,623,946 shares during the last quarter. Warburg Pincus LLC purchased a new stake in Diamondback Energy during the first quarter worth $291,598,000. FMR LLC raised its stake in Diamondback Energy by 17.0% in the first quarter. FMR LLC now owns 11,423,256 shares of the oil and natural gas company’s stock worth $1,184,763,000 after buying an additional 1,661,551 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Diamondback Energy by 8.1% in the first quarter. JPMorgan Chase & Co. now owns 6,354,921 shares of the oil and natural gas company’s stock worth $659,101,000 after buying an additional 477,648 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Diamondback Energy by 6.0% in the first quarter. Vanguard Group Inc. now owns 7,336,800 shares of the oil and natural gas company’s stock worth $760,937,000 after buying an additional 417,820 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.
Shares of Diamondback Energy, Inc. (NASDAQ FANG) opened at 90.47 on Tuesday. The firm has a market capitalization of $8.88 billion, a P/E ratio of 1924.89 and a beta of 1.06. The company’s 50 day moving average price is $93.33 and its 200 day moving average price is $100.47. Diamondback Energy, Inc. has a one year low of $82.77 and a one year high of $114.00.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.43. The firm had revenue of $235.23 million during the quarter, compared to the consensus estimate of $218.62 million. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%. On average, analysts expect that Diamondback Energy, Inc. will post $4.43 EPS for the current fiscal year.
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A number of analysts recently weighed in on FANG shares. Scotiabank restated a “buy” rating and set a $121.00 target price on shares of Diamondback Energy in a research note on Monday, March 27th. Barclays PLC restated an “equal weight” rating and set a $110.00 target price (down from $123.00) on shares of Diamondback Energy in a research note on Saturday, April 22nd. Zacks Investment Research lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Monday, March 27th. Stifel Nicolaus started coverage on shares of Diamondback Energy in a research note on Wednesday, April 12th. They set a “buy” rating and a $123.00 target price on the stock. Finally, Roth Capital set a $130.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $116.16.
In related news, Director Mark Lawrence Plaumann sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $101.52, for a total transaction of $101,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven E. West acquired 2,400 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average price of $103.45 per share, with a total value of $248,280.00. Following the completion of the purchase, the director now owns 2,400 shares in the company, valued at $248,280. The disclosure for this purchase can be found here. 0.41% of the stock is owned by corporate insiders.
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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