Diamondback Energy Inc (FANG) : 3g Capital Partners Lp reduced its stake in Diamondback Energy Inc by 37.5% during the most recent quarter end. The investment management company now holds a total of 500,000 shares of Diamondback Energy Inc which is valued at $47,290,000 after selling 300,000 shares in Diamondback Energy Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Diamondback Energy Inc makes up approximately 3.77% of 3g Capital Partners Lp’s portfolio.
Other Hedge Funds, Including , Voya Investment Management boosted its stake in FANG in the latest quarter, The investment management firm added 3,004 additional shares and now holds a total of 25,385 shares of Diamondback Energy Inc which is valued at $2,400,913. Diamondback Energy Inc makes up approx 0.01% of Voya Investment Management’s portfolio. Allianz Asset Management Ag sold out all of its stake in FANG during the most recent quarter. The investment firm sold 83,369 shares of FANG which is valued $7,885,040.Proshare Advisors reduced its stake in FANG by selling 1,292 shares or 17.24% in the most recent quarter. The Hedge Fund company now holds 6,202 shares of FANG which is valued at $586,585. Diamondback Energy Inc makes up approx 0.01% of Proshare Advisors’s portfolio.Boston Partners boosted its stake in FANG in the latest quarter, The investment management firm added 303,405 additional shares and now holds a total of 7,138,560 shares of Diamondback Energy Inc which is valued at $663,529,152. Diamondback Energy Inc makes up approx 0.91% of Boston Partners’s portfolio.
Diamondback Energy Inc opened for trading at $95.23 and hit $95.374 on the upside on Thursday, eventually ending the session at $95.27, with a gain of 0.02% or 0.02 points. The heightened volatility saw the trading volume jump to 7,10,707 shares. Company has a market cap of $7,434 M.
On the company’s financial health, Diamondback Energy Inc reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.17. The company had revenue of $112.48 million for the quarter, compared to analysts expectations of $112.47 million. The company’s revenue was down -5.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.
Many Wall Street Analysts have commented on Diamondback Energy Inc. Williams Capital Group Initiated Diamondback Energy Inc on Aug 29, 2016 to “Hold”, Price Target of the shares are set at $105.Diamondback Energy Inc was Upgraded by ROTH Capital to ” Buy” on Aug 8, 2016. Company shares were Reiterated by Wunderlich on Jul 14, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $100 .
Diamondback Energy Inc. is an independent oil and natural gas company. The Company is focused on the acquisition development exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company through its subsidiary Viper owns mineral interests underlying approximately 24528 gross (15948 net) acres in Midland County Texas in the Permian Basin. Approximately 43% of these net acres are operated by the Company. As of December 31 2014 it had drilled or participated in the drilling of 405 gross (343 net) wells on its leasehold acreage in this area primarily targeting the Wolfberry play. The Permian Basin area covers a portion of western Texas and eastern New Mexico. The Company’s activities are primarily focused on the Clearfork Spraberry Wolfcamp Cline Strawn and Atoka formations which it refers to collectively as the Wolfberry play.