Diamondback Energy Inc (FANG) : Eagle Asset Management Inc reduced its stake in Diamondback Energy Inc by 6.04% during the most recent quarter end. The investment management company now holds a total of 1,076,441 shares of Diamondback Energy Inc which is valued at $96,319,941 after selling 69,221 shares in Diamondback Energy Inc , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Diamondback Energy Inc makes up approximately 0.64% of Eagle Asset Management Inc’s portfolio.
Other Hedge Funds, Including , Copper Rock Capital Partners added FANG to its portfolio by purchasing 3,756 company shares during the most recent quarter which is valued at $336,087. Diamondback Energy Inc makes up approx 0.02% of Copper Rock Capital Partners’s portfolio. Fox Run Management L.l.c. sold out all of its stake in FANG during the most recent quarter. The investment firm sold 4,200 shares of FANG which is valued $375,816. Barrett Asset Management sold out all of its stake in FANG during the most recent quarter. The investment firm sold 315 shares of FANG which is valued $28,186. Cutler Group Lp added FANG to its portfolio by purchasing 2,769 company shares during the most recent quarter which is valued at $252,090. Diamondback Energy Inc makes up approx 0.02% of Cutler Group Lp’s portfolio.
Diamondback Energy Inc opened for trading at $90.1 and hit $90.12 on the upside on Wednesday, eventually ending the session at $89.48, with a gain of 0.07% or 0.06 points. The heightened volatility saw the trading volume jump to 14,69,209 shares. Company has a market cap of $6,416 M.
On the company’s financial health, Diamondback Energy Inc reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.06. The company had revenue of $87.48 million for the quarter, compared to analysts expectations of $89.55 million. The company’s revenue was down -13.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.
Many Wall Street Analysts have commented on Diamondback Energy Inc. 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 .BofA/Merrill Initiated Diamondback Energy Inc on Jul 13, 2016 to “Neutral”, Price Target of the shares are set at $106.Piper Jaffray Resumed Diamondback Energy Inc on Jul 11, 2016 to “Overweight”, Price Target of the shares are set at $101.
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.