Summit Securities Group LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,587 shares of the oil and natural gas company’s stock, valued at approximately $496,000.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Diamondback Energy by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock worth $224,000 after buying an additional 40 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Diamondback Energy by 2.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,650 shares of the oil and natural gas company’s stock worth $379,000 after buying an additional 100 shares in the last quarter. American International Group Inc. boosted its stake in shares of Diamondback Energy by 5.8% in the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after buying an additional 126 shares in the last quarter. AT Bancorp boosted its stake in shares of Diamondback Energy by 1.8% in the second quarter. AT Bancorp now owns 8,475 shares of the oil and natural gas company’s stock worth $753,000 after buying an additional 151 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock worth $100,000 after buying an additional 201 shares in the last quarter. 97.20% of the stock is owned by institutional investors and hedge funds.

Shares of Diamondback Energy, Inc. (FANG) opened at 92.87 on Friday. The stock has a market cap of $9.11 billion, a P/E ratio of 25.53 and a beta of 1.06. The stock has a 50 day moving average of $91.49 and a 200 day moving average of $98.25. Diamondback Energy, Inc. has a 52 week low of $82.77 and a 52 week high of $114.00.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.44. The firm had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The company’s revenue was up 137.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. On average, analysts expect that Diamondback Energy, Inc. will post $4.88 earnings per share for the current year.

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A number of brokerages have commented on FANG. Scotiabank set a $95.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $141.00 price target on shares of Diamondback Energy in a research report on Thursday, May 25th. BMO Capital Markets set a $120.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Barclays PLC reiterated a “hold” rating and issued a $93.00 price target on shares of Diamondback Energy in a research report on Friday, July 7th. Finally, Bank of America Corporation began coverage on shares of Diamondback Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $115.92.

In other news, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven E. West purchased 2,400 shares of the stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the transaction, the director now owns 2,400 shares in the company, valued at approximately $248,280. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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