Callahan Advisors LLC Buys 91 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Callahan Advisors LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% during the third quarter, HoldingsChannel.com reports. The fund owned 6,419 shares of the oil and natural gas company’s stock after acquiring an additional 91 shares during the quarter. Callahan Advisors LLC’s holdings in Diamondback Energy were worth $1,107,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. First Community Trust NA bought a new stake in shares of Diamondback Energy during the second quarter worth $26,000. Carolinas Wealth Consulting LLC grew its holdings in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the second quarter worth $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy during the third quarter worth $42,000. Finally, Founders Capital Management grew its holdings in shares of Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley increased their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Susquehanna cut their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Citigroup assumed coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price on the stock. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $175.63 on Wednesday. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The stock has a 50 day moving average of $182.56 and a 200-day moving average of $192.61. The company has a market capitalization of $51.77 billion, a P/E ratio of 9.08, a P/E/G ratio of 1.23 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.49 earnings per share. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Company 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.