Bocage Capital adds Diamondback Energy Inc (FANG) to its portfolio

Diamondback Energy Inc (FANG) : Bocage Capital added new position in Diamondback Energy Inc during the most recent quarter end. The investment management firm now holds 102,925 shares of Diamondback Energy Inc which is valued at $9,734,647 , the company said in a statement filed on Aug 15, 2016 with the SEC.Diamondback Energy Inc makes up approximately 7.74% of Bocage Capital’s portfolio.

Other Hedge Funds, Including , Encompass Capital Advisors sold out all of its stake in FANG during the most recent quarter. The investment firm sold 162,151 shares of FANG which is valued $15,336,242.Blackrock Investment Management boosted its stake in FANG in the latest quarter, The investment management firm added 15,334 additional shares and now holds a total of 87,140 shares of Diamondback Energy Inc which is valued at $8,241,701. Diamondback Energy Inc makes up approx 0.01% of Blackrock Investment Management’s portfolio.Oak Ridge Investments reduced its stake in FANG by selling 27,242 shares or 54.11% in the most recent quarter. The Hedge Fund company now holds 23,104 shares of FANG which is valued at $2,147,517. Diamondback Energy Inc makes up approx 0.05% of Oak Ridge Investments’s portfolio.Emerald Advisers Incpa reduced its stake in FANG by selling 185 shares or 0.81% in the most recent quarter. The Hedge Fund company now holds 22,765 shares of FANG which is valued at $1,998,539. Diamondback Energy Inc makes up approx 0.09% of Emerald Advisers Incpa’s portfolio.

Diamondback Energy Inc opened for trading at $97.6 and hit $98.95 on the upside on Wednesday, eventually ending the session at $98.56, with a gain of 1.45% or 1.41 points. The heightened volatility saw the trading volume jump to 997,923 shares. Company has a market cap of $7,691 M.

On the company’s financial health, Diamondback Energy Inc reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.17. The company had revenue of $112.48 million for the quarter, compared to analysts expectations of $112.47 million. The company’s revenue was down -5.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Diamondback Energy Inc. Williams Capital Group Initiated Diamondback Energy Inc on Aug 29, 2016 to “Hold”, Price Target of the shares are set at $105.Diamondback Energy Inc was Upgraded by ROTH Capital to ” Buy” on Aug 8, 2016. Company shares were Reiterated by Wunderlich on Jul 14, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $100 .

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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