Quent Capital LLC Buys 54 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Quent Capital LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 809 shares of the oil and natural gas company’s stock after acquiring an additional 54 shares during the quarter. Quent Capital LLC’s holdings in Diamondback Energy were worth $162,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in FANG. Founders Capital Management raised its stake in shares of Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. Logan Capital Management Inc. purchased a new position in shares of Diamondback Energy during the fourth quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the fourth quarter worth approximately $34,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Diamondback Energy during the first quarter worth approximately $49,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Diamondback Energy by 37.3% during the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 87 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 2.4 %

FANG stock traded up $4.52 during trading on Tuesday, hitting $189.70. 1,946,028 shares of the stock traded hands, compared to its average volume of 1,577,119. Diamondback Energy, Inc. has a 1 year low of $143.08 and a 1 year high of $214.50. The firm’s 50 day moving average is $198.09 and its two-hundred day moving average is $190.46. The stock has a market cap of $33.83 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.06 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the firm posted $3.68 EPS. Diamondback Energy’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FANG shares. Morgan Stanley decreased their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Barclays started coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. Piper Sandler lifted their target price on shares of Diamondback Energy from $247.00 to $249.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Bank of America lifted their target price on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Scotiabank decreased their target price on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.65.

Insider Activity at Diamondback Energy

In related news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the sale, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

About Diamondback Energy

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.