Alken Asset Management Ltd. Lowers stake in Diamondback Energy Inc (FANG)

Diamondback Energy Inc (FANG) : Alken Asset Management Ltd. reduced its stake in Diamondback Energy Inc by 4.78% during the most recent quarter end. The investment management company now holds a total of 313,295 shares of Diamondback Energy Inc which is valued at $26.8 Million after selling 15,738 shares in Diamondback Energy Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.Diamondback Energy Inc makes up approximately 2.67% of Alken Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd boosted its stake in FANG in the latest quarter, The investment management firm added 22,155 additional shares and now holds a total of 130,421 shares of Diamondback Energy Inc which is valued at $11.1 Million. Diamondback Energy Inc makes up approx 0.01% of Blackrock Group Ltd’s portfolio.Blackrock Investment Management boosted its stake in FANG in the latest quarter, The investment management firm added 23,543 additional shares and now holds a total of 71,806 shares of Diamondback Energy Inc which is valued at $6.1 Million. Diamondback Energy Inc makes up approx 0.01% of Blackrock Investment Management’s portfolio.Columbia Partners L L C Investment Management boosted its stake in FANG in the latest quarter, The investment management firm added 32,429 additional shares and now holds a total of 101,149 shares of Diamondback Energy Inc which is valued at $8.6 Million. Diamondback Energy Inc makes up approx 0.63% of Columbia Partners L L C Investment Management’s portfolio.State Of Wisconsin Investment Board boosted its stake in FANG in the latest quarter, The investment management firm added 1,420 additional shares and now holds a total of 49,910 shares of Diamondback Energy Inc which is valued at $4.3 Million. Diamondback Energy Inc makes up approx 0.02% of State Of Wisconsin Investment Board’s portfolio.

Diamondback Energy Inc opened for trading at $86.86 and hit $87.99 on the upside on Monday, eventually ending the session at $86.58, with a gain of 1.27% or 1.09 points. The heightened volatility saw the trading volume jump to 6,96,958 shares. Company has a market cap of $6,208 M.

On the company’s financial health, Diamondback Energy Inc reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.06. The company had revenue of $87.48 million for the quarter, compared to analysts expectations of $89.55 million. The company’s revenue was down -13.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on Diamondback Energy Inc. Company shares were Reiterated by Wunderlich on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $95 .Company shares were Reiterated by Topeka Capital Markets on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 96 from a previous price target of $85 .Shares were Downgraded by Canaccord Genuity on Feb 18, 2016 to ” Hold” and Lowered the Price Target to $ 65 from a previous price target of $71 .

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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