Scholtz Company buys $4,304,293 stake in Diamondback Energy Inc (FANG)

Diamondback Energy Inc (FANG) : Scholtz Company scooped up 12,950 additional shares in Diamondback Energy Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 45,635 shares of Diamondback Energy Inc which is valued at $4,304,293.Diamondback Energy Inc makes up approximately 4.70% of Scholtz Company’s portfolio.

Other Hedge Funds, Including , Glg Partners Lp sold out all of its stake in FANG during the most recent quarter. The investment firm sold 26,834 shares of FANG which is valued $2,530,983. Hap Trading added FANG to its portfolio by purchasing 18,475 company shares during the most recent quarter which is valued at $1,813,506. Diamondback Energy Inc makes up approx 0.09% of Hap Trading’s portfolio.American Century Companies Inc reduced its stake in FANG by selling 685 shares or 6.0% in the most recent quarter. The Hedge Fund company now holds 10,736 shares of FANG which is valued at $979,982. World Asset Management Inc added FANG to its portfolio by purchasing 3,110 company shares during the most recent quarter which is valued at $283,912. Diamondback Energy Inc makes up approx 0.01% of World Asset Management Inc’s portfolio.

Diamondback Energy Inc closed down -0.82 points or -0.84% at $97.1 with 9,41,593 shares getting traded on Monday. Post opening the session at $98.19, the shares hit an intraday low of $96.98 and an intraday high of $99.56 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Diamondback Energy Inc reported $-0.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.37 based on the information available during the earnings call on Nov 7, 2016. Analyst had a consensus of $0.34. The company had revenue of $142.13 million for the quarter, compared to analysts expectations of $142.79 million. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Diamondback Energy Inc. Company shares were Reiterated by Wunderlich on Oct 11, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $110 .Company shares were Reiterated by KLR Group on Oct 11, 2016 to “Buy”, Firm has raised the Price Target to $ 139 from a previous price target of $126 .Company shares were Reiterated by Williams Capital Group on Oct 10, 2016 to “Hold”, Firm has raised the Price Target to $ 112 from a previous price target of $105 .

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.

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