Y Intercept Hong Kong Ltd Purchases 8,001 Shares of Diamondback Energy, Inc. $FANG

Y Intercept Hong Kong Ltd raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 438.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,825 shares of the oil and natural gas company’s stock after acquiring an additional 8,001 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Diamondback Energy were worth $1,350,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Uhlmann Price Securities LLC lifted its stake in shares of Diamondback Energy by 1.3% in the second quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock valued at $699,000 after buying an additional 67 shares during the period. Investor s Fiduciary Advisor Network LLC lifted its stake in shares of Diamondback Energy by 2.1% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock valued at $569,000 after buying an additional 74 shares during the period. Mesirow Financial Investment Management Inc. lifted its stake in shares of Diamondback Energy by 5.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock valued at $226,000 after buying an additional 75 shares during the period. FourThought Financial Partners LLC lifted its stake in shares of Diamondback Energy by 2.9% in the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after buying an additional 78 shares during the period. Finally, Biondo Investment Advisors LLC lifted its stake in shares of Diamondback Energy by 0.3% in the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock valued at $4,614,000 after buying an additional 80 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $143.16 on Monday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.07. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $41.44 billion, a PE ratio of 10.17 and a beta of 0.99. The firm has a 50-day moving average price of $142.95 and a 200 day moving average price of $141.62.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the company earned $4.52 EPS. The business’s revenue for the quarter was up 48.1% on a year-over-year basis. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FANG shares. Evercore ISI increased their target price on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Melius started coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price for the company. Wall Street Zen cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Mizuho reduced their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Melius Research started coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $189.67.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.