Envestnet Asset Management Inc. Acquires 5,533 Shares of Diamondback Energy Inc (FANG)

Envestnet Asset Management Inc. grew its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 19.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,708 shares of the oil and natural gas company’s stock after purchasing an additional 5,533 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Diamondback Energy were worth $3,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC boosted its stake in Diamondback Energy by 1.6% during the 2nd quarter. FMR LLC now owns 11,609,146 shares of the oil and natural gas company’s stock worth $1,031,009,000 after purchasing an additional 185,890 shares during the last quarter. Vanguard Group Inc. boosted its stake in Diamondback Energy by 8.9% during the 2nd quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock worth $709,428,000 after purchasing an additional 651,353 shares during the last quarter. Boston Partners boosted its stake in Diamondback Energy by 18.1% during the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after purchasing an additional 1,208,864 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Diamondback Energy by 20.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock worth $677,951,000 after purchasing an additional 1,278,802 shares during the last quarter. Finally, Warburg Pincus LLC boosted its stake in Diamondback Energy by 132.4% during the 2nd quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock worth $580,188,000 after purchasing an additional 3,721,519 shares during the last quarter.

Diamondback Energy Inc (NASDAQ FANG) opened at $111.53 on Wednesday. Diamondback Energy Inc has a 1 year low of $82.77 and a 1 year high of $114.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45. The company has a market cap of $10,873.99, a PE ratio of 23.72, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The company had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Diamondback Energy’s revenue for the quarter was up 112.0% compared to the same quarter last year. equities research analysts forecast that Diamondback Energy Inc will post 5.02 EPS for the current fiscal year.

FANG has been the topic of several recent research reports. Credit Suisse Group initiated coverage on shares of Diamondback Energy in a research report on Monday. They set an “outperform” rating and a $123.00 price target on the stock. Northland Securities set a $120.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday. Citigroup initiated coverage on shares of Diamondback Energy in a research report on Friday, December 1st. They set a “buy” rating and a $130.00 price target on the stock. Mizuho set a $122.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, November 25th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $118.00 price target on shares of Diamondback Energy in a research report on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $125.56.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $111.45, for a total value of $222,900.00. Following the transaction, the vice president now owns 63,314 shares of the company’s stock, valued at $7,056,345.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Teresa L. Dick sold 5,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $111.79, for a total transaction of $558,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,760 shares in the company, valued at approximately $3,550,450.40. The disclosure for this sale can be found here. Insiders sold 26,400 shares of company stock worth $2,753,230 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

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Diamondback Energy Profile

Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.

Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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