Daiwa Securities Group Inc. trimmed its position in Diamondback Energy Inc (NASDAQ:FANG) by 13.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,775 shares of the oil and natural gas company’s stock after selling 4,826 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Diamondback Energy were worth $4,012,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Boston Partners lifted its holdings in shares of Diamondback Energy by 18.1% in the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after buying an additional 1,208,864 shares during the period. State Street Corp lifted its holdings in shares of Diamondback Energy by 8.3% in the 2nd quarter. State Street Corp now owns 2,192,372 shares of the oil and natural gas company’s stock worth $194,707,000 after buying an additional 168,604 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Diamondback Energy by 15.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,141,967 shares of the oil and natural gas company’s stock worth $209,827,000 after buying an additional 294,048 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Diamondback Energy by 2.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,706,199 shares of the oil and natural gas company’s stock worth $167,139,000 after buying an additional 33,582 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 10.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,529,601 shares of the oil and natural gas company’s stock worth $193,111,000 after buying an additional 145,951 shares during the period.

Several equities research analysts have weighed in on FANG shares. Wells Fargo & Co set a $120.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, October 17th. SunTrust Banks set a $120.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Monday, October 16th. Piper Jaffray Companies reiterated a “buy” rating and issued a $118.00 target price on shares of Diamondback Energy in a report on Friday, November 24th. Scotiabank restated a “buy” rating and set a $118.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 22nd. Finally, Goldman Sachs Group cut Diamondback Energy from a “conviction-buy” rating to a “buy” rating and upped their price objective for the stock from $106.53 to $118.00 in a research note on Friday, November 17th. Five research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $135.11.

In other news, CEO Travis D. Stice sold 35,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total value of $4,375,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael L. Hollis sold 3,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total value of $388,020.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,400 shares of company stock valued at $8,337,200. 0.41% of the stock is currently owned by company insiders.

Shares of Diamondback Energy Inc (NASDAQ FANG) opened at $116.01 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. Diamondback Energy Inc has a 12 month low of $82.77 and a 12 month high of $134.52. The company has a market capitalization of $10,848.47, a PE ratio of 28.09, a price-to-earnings-growth ratio of 0.57 and a beta of 0.91.

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Diamondback Energy 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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