Sentry Investment Management LLC Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Sentry Investment Management LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,188 shares of the oil and natural gas company’s stock after purchasing an additional 88 shares during the period. Sentry Investment Management LLC’s holdings in Diamondback Energy were worth $550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Diamondback Energy by 178.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after buying an additional 19,552 shares during the last quarter. Cullen Investment Group LTD. increased its position in shares of Diamondback Energy by 33.5% in the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after acquiring an additional 3,008 shares during the period. ORG Partners LLC raised its stake in shares of Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after acquiring an additional 4,181 shares during the last quarter. Homestead Advisers Corp purchased a new stake in shares of Diamondback Energy during the first quarter worth about $87,940,000. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Diamondback Energy in the first quarter worth about $5,148,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $179.76 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50. The firm’s 50-day moving average is $182.94 and its 200 day moving average is $192.79. The stock has a market cap of $52.98 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.23 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

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

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction 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 sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of recent analyst reports. Scotiabank lowered their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. JPMorgan Chase & Co. initiated coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective on the stock. Evercore ISI dropped their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $205.00 to $215.00 in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.