Metropolitan Life Insurance Co NY Trims Position in Diamondback Energy Inc (NASDAQ:FANG)

Metropolitan Life Insurance Co NY reduced its position in Diamondback Energy Inc (NASDAQ:FANG) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,480 shares of the oil and natural gas company’s stock after selling 938 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Diamondback Energy were worth $2,282,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FANG. Vanguard Group Inc grew its stake in Diamondback Energy by 0.3% in the third quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock worth $1,160,994,000 after purchasing an additional 23,673 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Diamondback Energy by 34.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,679 shares of the oil and natural gas company’s stock worth $434,000 after purchasing an additional 1,193 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Diamondback Energy by 28,126.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 2,971,317 shares in the last quarter. Comerica Bank grew its stake in Diamondback Energy by 212.4% in the fourth quarter. Comerica Bank now owns 53,943 shares of the oil and natural gas company’s stock worth $5,403,000 after purchasing an additional 36,675 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in Diamondback Energy by 102.4% in the fourth quarter. Penserra Capital Management LLC now owns 1,336 shares of the oil and natural gas company’s stock worth $123,000 after purchasing an additional 676 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

FANG has been the subject of a number of analyst reports. Northland Securities initiated coverage on THUNDER BRDG AC/SH SH in a report on Thursday, June 20th. They set an “outperform” rating for the company. Roth Capital decreased their price objective on Diamondback Energy from $166.00 to $150.00 and set a “buy” rating for the company in a report on Friday, June 7th. MKM Partners assumed coverage on Diamondback Energy in a report on Friday, June 28th. They set a “buy” rating for the company. TD Securities increased their price objective on Diamondback Energy from $155.00 to $160.00 and gave the company an “action list buy” rating in a report on Thursday, June 20th. Finally, Williams Capital set a $165.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $158.48.

Diamondback Energy stock traded up $1.51 during midday trading on Friday, reaching $110.83. The company had a trading volume of 1,243,605 shares, compared to its average volume of 1,283,965. The company has a market capitalization of $18.00 billion, a P/E ratio of 18.88, a P/E/G ratio of 0.67 and a beta of 0.85. Diamondback Energy Inc has a 12-month low of $85.19 and a 12-month high of $140.78. The business has a fifty day moving average of $103.67. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.32.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.03. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The firm had revenue of $864.00 million for the quarter, compared to analyst estimates of $893.16 million. During the same period last year, the company posted $1.64 EPS. Diamondback Energy’s quarterly revenue was up 80.4% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy Inc will post 7.95 earnings per share for the current fiscal year.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total value of $161,205.00. Following the transaction, the chief financial officer now directly owns 27,465 shares of the company’s stock, valued at approximately $2,951,663.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $112.18, for a total transaction of $560,900.00. Following the completion of the transaction, the vice president now directly owns 117,107 shares in the company, valued at $13,137,063.26. The disclosure for this sale can be found here. Insiders sold a total of 11,500 shares of company stock worth $1,258,505 over the last three months. Corporate insiders own 0.47% of the company’s stock.

Diamondback Energy Company 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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