Diamondback Energy Inc (FANG) : Geosphere Capital Management reduced its stake in Diamondback Energy Inc by 3.73% during the most recent quarter end. The investment management company now holds a total of 49,100 shares of Diamondback Energy Inc which is valued at $4,631,112 after selling 1,900 shares in Diamondback Energy Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Diamondback Energy Inc makes up approximately 6.26% of Geosphere Capital Management’s portfolio.
Other Hedge Funds, Including , Clinton Group Inc reduced its stake in FANG by selling 20,207 shares or 46.32% in the most recent quarter. The Hedge Fund company now holds 23,421 shares of FANG which is valued at $2,209,069. Diamondback Energy Inc makes up approx 0.10% of Clinton Group Inc’s portfolio.Alliancebernstein boosted its stake in FANG in the latest quarter, The investment management firm added 4,558 additional shares and now holds a total of 51,348 shares of Diamondback Energy Inc which is valued at $4,999,755.Keybank National Associationoh reduced its stake in FANG by selling 13,369 shares or 7.07% in the most recent quarter. The Hedge Fund company now holds 175,718 shares of FANG which is valued at $17,248,479. Diamondback Energy Inc makes up approx 0.11% of Keybank National Associationoh’s portfolio. Chicago Equity Partners sold out all of its stake in FANG during the most recent quarter. The investment firm sold 3,040 shares of FANG which is valued $277,522.Cwm reduced its stake in FANG by selling 1,738 shares or 13.41% in the most recent quarter. The Hedge Fund company now holds 11,223 shares of FANG which is valued at $1,132,401. Diamondback Energy Inc makes up approx 0.08% of Cwm’s portfolio.
Diamondback Energy Inc closed down -0.82 points or -0.84% at $97.1 with 9,41,593 shares getting traded on Monday. Post opening the session at $98.19, the shares hit an intraday low of $96.98 and an intraday high of $99.56 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Diamondback Energy Inc reported $-0.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.37 based on the information available during the earnings call on Nov 7, 2016. Analyst had a consensus of $0.34. The company had revenue of $142.13 million for the quarter, compared to analysts expectations of $142.79 million. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Many Wall Street Analysts have commented on Diamondback Energy Inc. Company shares were Reiterated by Wunderlich on Oct 11, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $110 .Company shares were Reiterated by KLR Group on Oct 11, 2016 to “Buy”, Firm has raised the Price Target to $ 139 from a previous price target of $126 .Company shares were Reiterated by Williams Capital Group on Oct 10, 2016 to “Hold”, Firm has raised the Price Target to $ 112 from a previous price target of $105 .
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.