Avalon Advisors LLC Has $3.71 Million Position in Diamondback Energy Inc (FANG)

Avalon Advisors LLC boosted its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 9.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,352 shares of the oil and natural gas company’s stock after acquiring an additional 2,419 shares during the period. Avalon Advisors LLC’s holdings in Diamondback Energy were worth $3,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of FANG. First Trust Advisors LP increased its stake in Diamondback Energy by 248.1% during the 4th quarter. First Trust Advisors LP now owns 92,353 shares of the oil and natural gas company’s stock valued at $11,660,000 after purchasing an additional 65,820 shares in the last quarter. Arizona State Retirement System increased its stake in Diamondback Energy by 6.9% during the 4th quarter. Arizona State Retirement System now owns 11,746 shares of the oil and natural gas company’s stock valued at $1,483,000 after purchasing an additional 754 shares in the last quarter. Schroder Investment Management Group increased its stake in Diamondback Energy by 10.8% during the 4th quarter. Schroder Investment Management Group now owns 79,225 shares of the oil and natural gas company’s stock valued at $10,002,000 after purchasing an additional 7,750 shares in the last quarter. American International Group Inc. acquired a new position in Diamondback Energy during the 4th quarter valued at approximately $267,000. Finally, First Republic Investment Management Inc. acquired a new position in Diamondback Energy during the 4th quarter valued at approximately $1,520,000.

In related news, VP Hof Matthew Kaes Van’t sold 832 shares of the stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total transaction of $106,878.72. Following the sale, the vice president now directly owns 6,897 shares of the company’s stock, valued at $885,988.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $137.00, for a total transaction of $274,000.00. Following the sale, the vice president now directly owns 91,532 shares in the company, valued at $12,539,884. The disclosure for this sale can be found here. Insiders have sold 8,332 shares of company stock worth $1,079,729 over the last three months. 0.57% of the stock is currently owned by insiders.

FANG has been the topic of a number of recent analyst reports. UBS Group initiated coverage on shares of Diamondback Energy in a research note on Wednesday, March 7th. They set a “buy” rating and a $155.00 price target on the stock. BidaskClub upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Jefferies Financial Group set a $162.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Monday, March 19th. Stifel Nicolaus set a $167.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Wednesday, March 28th. Finally, ValuEngine upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $143.56.

NASDAQ:FANG opened at $130.13 on Thursday. The firm has a market capitalization of $11.99 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 0.68 and a beta of 0.74. Diamondback Energy Inc has a 1-year low of $82.77 and a 1-year high of $138.14. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.05. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The firm had revenue of $480.20 million for the quarter, compared to analyst estimates of $445.78 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 104.1% compared to the same quarter last year. research analysts predict that Diamondback Energy Inc will post 6.7 EPS for the current fiscal year.

The company also recently declared a special dividend, which was paid on Tuesday, May 29th. Investors of record on Monday, May 21st were issued a dividend of $0.125 per share. The ex-dividend date was Friday, May 18th. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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