3,412 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Hanlon Investment Management Inc.

Hanlon Investment Management Inc. bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, HoldingsChannel reports. The institutional investor bought 3,412 shares of the oil and natural gas company’s stock, valued at approximately $588,000.

Other hedge funds have also recently bought and sold shares of the company. First Community Trust NA acquired a new position in Diamondback Energy during the second quarter worth about $26,000. Carolinas Wealth Consulting LLC increased its stake in Diamondback Energy by 67.1% in the 2nd 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 in the last quarter. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy in the 2nd quarter worth about $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy in the 3rd quarter worth about $42,000. Finally, Founders Capital Management increased its stake in Diamondback Energy by 99.2% in the 2nd 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 in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Down 0.9 %

FANG opened at $178.21 on Tuesday. The business has a 50 day moving average price of $182.94 and a 200 day moving average price of $192.79. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The firm has a market cap of $52.53 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FANG. Morgan Stanley lifted their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America lifted their price target on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Piper Sandler lifted their price target on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Susquehanna decreased their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. began coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

Insiders Place Their Bets

In other Diamondback Energy 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 value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

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.