Eagle Asset Management Inc. Sells 11,870 Shares of Diamondback Energy Inc (FANG)

Eagle Asset Management Inc. trimmed its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The firm 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 investment portfolio, making the stock its 11th biggest position. Eagle Asset Management Inc.’s holdings in Diamondback Energy were worth $157,515,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Diamondback Energy by 42.6% during the 4th quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock valued at $164,000 after purchasing an additional 389 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Diamondback Energy by 476.3% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock valued at $178,000 after purchasing an additional 1,167 shares during the period. KCS Wealth Advisory bought a new stake in shares of Diamondback Energy during the 4th quarter valued at $202,000. Dearborn Partners LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at $208,000. Finally, Pinnacle Financial Partners Inc. bought a new stake in shares of Diamondback Energy during the 4th quarter valued at $217,000.

In related news, VP Russell Pantermuehl sold 1,400 shares of Diamondback Energy stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $111.10, for a total transaction of $155,540.00. Following the completion of the sale, the vice president now owns 60,814 shares in the company, valued at approximately $6,756,435.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Teresa L. Dick sold 1,000 shares of Diamondback Energy stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $112.13, for a total transaction of $112,130.00. Following the sale, the chief financial officer now owns 30,760 shares of the company’s stock, valued at approximately $3,449,118.80. The disclosure for this sale can be found here. Insiders have sold a total of 68,400 shares of company stock valued at $8,337,200 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 target price for the company in a research note on Wednesday, January 17th. Deutsche Bank assumed coverage on shares of Diamondback Energy in a research note on Thursday, February 1st. They set a “buy” rating and a $162.00 target price for the company. Scotiabank reaffirmed a “buy” rating and set a $118.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 22nd. Morgan Stanley raised their target price on shares of Diamondback Energy from $118.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $138.00 target price on shares of Diamondback Energy in a research note on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $136.70.

Shares of Diamondback Energy Inc (NASDAQ FANG) opened at $122.83 on Thursday. Diamondback Energy Inc has a twelve month low of $82.77 and a twelve month high of $134.52. The firm has a market cap of $11,292.18, a PE ratio of 21.58, a P/E/G ratio of 0.59 and a beta of 0.91. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.74%. The company had revenue of $399.19 million during the quarter, compared to analyst estimates of $370.74 million. equities analysts forecast that Diamondback Energy Inc will post 7.14 earnings per share for the current fiscal year.

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About Diamondback Energy

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

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