Eagle Asset Management Inc. trimmed its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,251,131 shares of the oil and natural gas company’s stock after selling 11,870 shares during the period. Diamondback Energy comprises 0.9% of Eagle Asset Management Inc.’s portfolio, making the stock its 11th largest position. Eagle Asset Management Inc. owned 1.27% of Diamondback Energy worth $157,515,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in FANG. IFP Advisors Inc raised its stake in Diamondback Energy by 42.6% in the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock worth $164,000 after buying an additional 389 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Diamondback Energy by 476.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock worth $178,000 after buying an additional 1,167 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after buying an additional 700 shares in the last quarter. KCS Wealth Advisory bought a new position in Diamondback Energy in the fourth quarter worth about $202,000. Finally, Crossmark Global Holdings Inc. bought a new position in Diamondback Energy in the third quarter worth about $206,000.
In related news, insider Michael L. Hollis sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total value of $388,020.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Travis D. Stice sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total transaction of $4,375,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,400 shares of company stock worth $8,337,200. Corporate insiders own 0.41% of the company’s stock.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.74%. The firm had revenue of $399.19 million for the quarter, compared to analysts’ expectations of $370.74 million. sell-side analysts forecast that Diamondback Energy Inc will post 7.14 EPS for the current year.
A number of equities analysts recently issued reports on FANG shares. Williams Capital reissued a “hold” rating and issued a $114.00 price target (up from $110.00) on shares of Diamondback Energy in a research note on Wednesday, October 18th. Morgan Stanley increased their price target on shares of Diamondback Energy from $118.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. KeyCorp reissued an “overweight” rating and issued a $125.00 price target (up from $117.00) on shares of Diamondback Energy in a research note on Tuesday, November 7th. Imperial Capital increased their price target on shares of Diamondback Energy from $113.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Five research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $136.70.
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Diamondback Energy Company 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.
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