RS Investment Management Co. LLC cut its position in shares of Diamondback Energy Inc. (NASDAQ:FANG) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,158 shares of the company’s stock after selling 74,753 shares during the period. RS Investment Management Co. LLC’s holdings in Diamondback Energy were worth $33,397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. bought a new position in shares of Diamondback Energy during the first quarter worth approximately $3,479,000. TimesSquare Capital Management LLC bought a new position in shares of Diamondback Energy during the first quarter worth approximately $29,799,000. Columbia Partners L L C Investment Management raised its position in shares of Diamondback Energy by 47.2% in the first quarter. Columbia Partners L L C Investment Management now owns 101,149 shares of the company’s stock worth $7,806,000 after buying an additional 32,429 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Diamondback Energy by 6.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,773,392 shares of the company’s stock worth $136,870,000 after buying an additional 101,344 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of Diamondback Energy by 3.3% in the first quarter. BlackRock Fund Advisors now owns 798,166 shares of the company’s stock worth $61,602,000 after buying an additional 25,366 shares during the period. Institutional investors and hedge funds own 99.74% of the company’s stock.

Diamondback Energy Inc. (NASDAQ:FANG) traded up 1.80% during midday trading on Thursday, reaching $91.00. 1,048,538 shares of the company’s stock were exchanged. The company’s market cap is $7.10 billion. The firm has a 50-day moving average price of $94.32 and a 200 day moving average price of $87.55. Diamondback Energy Inc. has a 12-month low of $55.48 and a 12-month high of $99.69.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The firm earned $112.48 million during the quarter, compared to analyst estimates of $112.47 million. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. On average, analysts expect that Diamondback Energy Inc. will post $1.02 EPS for the current fiscal year.

A number of brokerages recently commented on FANG. KeyCorp upped their price target on shares of Diamondback Energy from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. Williams Capital assumed coverage on shares of Diamondback Energy in a research report on Monday, August 29th. They set a “hold” rating and a $105.00 target price on the stock. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Diamondback Energy in a research report on Wednesday, June 8th. Zacks Investment Research lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Finally, Simmons restated an “overweight” rating and set a $109.00 target price (up previously from $106.00) on shares of Diamondback Energy in a research report on Saturday, August 13th. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $97.03.

In other news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $98.00, for a total value of $2,940,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Teresa L. Dick sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $95.71, for a total transaction of $95,710.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares of the company’s stock, valued at $2,464,532.50. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Diamondback Energy Company Profile

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. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.

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