Balyasny Asset Management LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 78.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 116,561 shares of the oil and natural gas company’s stock after selling 428,413 shares during the quarter. Balyasny Asset Management LLC owned approximately 0.12% of Diamondback Energy worth $10,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FANG. Parametric Portfolio Associates LLC increased its position in Diamondback Energy by 11.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 87,494 shares of the oil and natural gas company’s stock valued at $9,074,000 after acquiring an additional 8,916 shares during the period. Prudential Financial Inc. increased its position in shares of Diamondback Energy by 8.4% during the first quarter. Prudential Financial Inc. now owns 4,890 shares of the oil and natural gas company’s stock worth $507,000 after buying an additional 380 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Diamondback Energy during the first quarter worth $452,000. American International Group Inc. increased its position in shares of Diamondback Energy by 5.8% during 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 during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of Diamondback Energy by 71.7% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 8,441 shares of the oil and natural gas company’s stock worth $874,000 after buying an additional 3,525 shares during the period.

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Diamondback Energy, Inc. (NASDAQ FANG) opened at 99.75 on Friday. Diamondback Energy, Inc. has a 1-year low of $82.77 and a 1-year high of $114.00. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 27.43 and a beta of 1.08. The firm has a 50 day moving average of $92.98 and a 200-day moving average of $95.20.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. During the same quarter in the previous year, the business posted $0.26 EPS. The company’s quarterly revenue was up 137.7% on a year-over-year basis. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post $4.91 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on FANG shares. Scotiabank set a $95.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets reiterated a “buy” rating and set a $100.00 price objective on shares of Diamondback Energy in a research report on Tuesday, June 27th. Northland Securities set a $125.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, July 17th. Bank of America Corporation started coverage on shares of Diamondback Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $115.00 price objective for the company. Finally, Roth Capital increased their price objective on shares of Diamondback Energy from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $120.38.

In other news, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total transaction of $387,560.00. Following the sale, the vice president now owns 70,214 shares in the company, valued at approximately $6,803,034.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,805 shares of company stock worth $1,129,501. Company insiders own 0.41% of the company’s stock.

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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