Korea Investment CORP increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,100 shares of the oil and natural gas company’s stock after acquiring an additional 6,200 shares during the quarter. Korea Investment CORP owned about 0.05% of Diamondback Energy worth $5,202,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in FANG. Warburg Pincus LLC increased its position in Diamondback Energy by 132.4% during the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock worth $580,188,000 after acquiring an additional 3,721,519 shares during the period. Artisan Partners Limited Partnership increased its position in Diamondback Energy by 964.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock worth $164,114,000 after acquiring an additional 1,674,336 shares during the period. JPMorgan Chase & Co. increased its position in Diamondback Energy by 20.1% during the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock worth $677,951,000 after acquiring an additional 1,278,802 shares during the period. Capital World Investors grew its stake in Diamondback Energy by 98.1% during the second quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock worth $223,490,000 after buying an additional 1,246,072 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Diamondback Energy by 159.6% during the second quarter. Voya Investment Management LLC now owns 1,320,826 shares of the oil and natural gas company’s stock worth $117,302,000 after buying an additional 811,950 shares in the last quarter.

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A number of brokerages have issued reports on FANG. BidaskClub downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Mizuho reiterated a “buy” rating and set a $114.00 price objective (up from $109.00) on shares of Diamondback Energy in a research note on Thursday, August 3rd. Bank of America Corporation began coverage on shares of Diamondback Energy in a research note on Wednesday, July 19th. They set a “buy” rating and a $115.00 price objective on the stock. Northland Securities set a $125.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, August 21st. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $112.00 price objective on shares of Diamondback Energy in a research note on Thursday, September 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $122.13.

In related news, insider Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total transaction of $475,200.00. Following the transaction, the vice president now owns 42,563 shares in the company, valued at approximately $4,045,187.52. The disclosure for this sale can be found here. Insiders have sold 14,805 shares of company stock worth $1,449,381 in the last quarter. Company insiders own 0.41% of the company’s stock.

Diamondback Energy, Inc. (NASDAQ:FANG) opened at $111.15 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.68. The firm has a market capitalization of $10.69 billion, a PE ratio of 28.08, a P/E/G ratio of 0.73 and a beta of 1.10.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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 business had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. During the same quarter last year, the business earned $0.26 earnings per share. The business’s revenue for the quarter was up 137.7% on a year-over-year basis. equities analysts forecast that Diamondback Energy, Inc. will post 5 earnings per share for the current year.

About Diamondback Energy

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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