Brenham Capital Management Lowers stake in Diamondback Energy Inc (FANG)

Diamondback Energy Inc (FANG) : Brenham Capital Management reduced its stake in Diamondback Energy Inc by 3.85% during the most recent quarter end. The investment management company now holds a total of 1,250,000 shares of Diamondback Energy Inc which is valued at $118,225,000 after selling 50,000 shares in Diamondback Energy Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Diamondback Energy Inc makes up approximately 13.81% of Brenham Capital Management’s portfolio.

Other Hedge Funds, Including , Tudor Investment Corp Et Al sold out all of its stake in FANG during the most recent quarter. The investment firm sold 3,860 shares of FANG which is valued $365,079.Columbia Wanger Asset Management reduced its stake in FANG by selling 71,520 shares or 13.62% in the most recent quarter. The Hedge Fund company now holds 453,480 shares of FANG which is valued at $42,890,138. Diamondback Energy Inc makes up approx 0.47% of Columbia Wanger Asset Management’s portfolio.Tiaa Cref Investment Management reduced its stake in FANG by selling 298,969 shares or 23.26% in the most recent quarter. The Hedge Fund company now holds 986,508 shares of FANG which is valued at $93,303,927. Diamondback Energy Inc makes up approx 0.07% of Tiaa Cref Investment Management’s portfolio.Blackrock Fund Advisors boosted its stake in FANG in the latest quarter, The investment management firm added 26,297 additional shares and now holds a total of 824,463 shares of Diamondback Energy Inc which is valued at $77,977,711. Diamondback Energy Inc makes up approx 0.02% of Blackrock Fund Advisors’s portfolio.Essex Investment Management Co boosted its stake in FANG in the latest quarter, The investment management firm added 20,904 additional shares and now holds a total of 53,781 shares of Diamondback Energy Inc which is valued at $4,590,746. Diamondback Energy Inc makes up approx 0.73% of Essex Investment Management Co’s portfolio.

Diamondback Energy Inc opened for trading at $95.23 and hit $95.374 on the upside on Thursday, eventually ending the session at $95.27, with a gain of 0.02% or 0.02 points. The heightened volatility saw the trading volume jump to 7,10,707 shares. Company has a market cap of $7,434 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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