KG&L Capital Management LLC Purchases New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

KG&L Capital Management LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,139 shares of the oil and natural gas company’s stock, valued at approximately $369,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. First Community Trust NA purchased a new stake in Diamondback Energy during the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC lifted its holdings in 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 valued at $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy during the second quarter valued at about $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the third quarter valued at about $42,000. Finally, Founders Capital Management lifted its holdings in 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 valued at $50,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 2.2 %

Shares of NASDAQ FANG opened at $179.76 on Tuesday. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm’s 50 day simple moving average is $182.94 and its two-hundred day simple moving average is $192.79. The stock has a market capitalization of $52.98 billion, a P/E ratio of 9.29, a PEG ratio of 1.24 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the business earned $3.68 earnings per share. The business’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, analysts expect that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FANG shares. Bank of America increased their price target on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wolfe Research started coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Citigroup started coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Finally, Jefferies Financial Group started coverage on shares of Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.09.

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.