AMI Asset Management Corp decreased its stake in Diamondback Energy Inc (NASDAQ:FANG) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 160,616 shares of the company’s stock after selling 2,999 shares during the period. AMI Asset Management Corp owned 0.18% of Diamondback Energy worth $16,658,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Creative Planning boosted its position in shares of Diamondback Energy by 7.3% in the third quarter. Creative Planning now owns 1,073 shares of the company’s stock valued at $104,000 after buying an additional 73 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Diamondback Energy during the third quarter valued at $207,000. DG Capital Management Inc. acquired a new position in shares of Diamondback Energy during the third quarter valued at $754,000. CENTRAL TRUST Co boosted its position in shares of Diamondback Energy by 23.9% in the third quarter. CENTRAL TRUST Co now owns 20,725 shares of the company’s stock valued at $2,001,000 after buying an additional 4,000 shares in the last quarter. Finally, Bright Rock Capital Management LLC acquired a new position in shares of Diamondback Energy during the third quarter valued at $1,361,000. 95.51% of the stock is owned by institutional investors.
Diamondback Energy Inc (NASDAQ:FANG) traded down 1.20% during midday trading on Thursday, hitting $105.04. The stock had a trading volume of 1,502,106 shares. The stock’s market cap is $9.47 billion. Diamondback Energy Inc has a 52 week low of $77.50 and a 52 week high of $114.00. The company has a 50-day moving average price of $102.69 and a 200-day moving average price of $101.40.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.36. Diamondback Energy had a positive return on equity of 4.26% and a negative net margin of 82.83%. The business earned $185 million during the quarter, compared to the consensus estimate of $167.45 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. Diamondback Energy’s revenue was up 61.9% compared to the same quarter last year. Equities analysts expect that Diamondback Energy Inc will post $3.53 EPS for the current year.
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Several equities analysts have recently weighed in on FANG shares. Drexel Hamilton started coverage on shares of Diamondback Energy in a research note on Thursday, December 15th. They set a “hold” rating for the company. Canaccord Genuity reissued a “buy” rating and issued a $120.00 target price (up from $116.00) on shares of Diamondback Energy in a research note on Friday, December 16th. KLR Group set a $150.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, December 20th. Zacks Investment Research cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 3rd. Finally, Barclays PLC reissued an “equal weight” rating and issued a $120.00 target price (up from $108.00) on shares of Diamondback Energy in a research note on Thursday, January 26th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $112.63.
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,900 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $107.35, for a total value of $203,965.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $105.34, for a total value of $526,700.00. Following the completion of the transaction, the vice president now owns 83,214 shares of the company’s stock, valued at approximately $8,765,762.76. The disclosure for this sale can be found here. Insiders have sold 10,900 shares of company stock valued at $1,146,685 in the last quarter. 0.35% of the stock is currently owned by corporate insiders.
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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