Franklin Resources Inc. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 367,810 shares of the oil and natural gas company’s stock after buying an additional 40,284 shares during the quarter. Franklin Resources Inc. owned approximately 0.37% of Diamondback Energy worth $32,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FANG. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Diamondback Energy by 12.3% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 4,100 shares of the oil and natural gas company’s stock worth $364,000 after buying an additional 450 shares during the last quarter. Baltimore Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 104.8% during the second quarter. Baltimore Capital Management Inc. now owns 4,300 shares of the oil and natural gas company’s stock worth $382,000 after buying an additional 2,200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Diamondback Energy by 1.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,197 shares of the oil and natural gas company’s stock worth $1,705,000 after buying an additional 276 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 buying an additional 1,278,802 shares during the last quarter. Finally, Cipher Capital LP lifted its holdings in shares of Diamondback Energy by 14.1% during the second quarter. Cipher Capital LP now owns 50,730 shares of the oil and natural gas company’s stock worth $4,505,000 after buying an additional 6,273 shares during the last quarter.

In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total transaction of $57,518.50. Following the sale, the vice president now owns 4,950 shares in the company, valued at $438,025.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,805 shares of company stock valued at $166,741. 0.41% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on the company. Piper Jaffray Companies restated a “buy” rating and set a $112.00 price objective on shares of Diamondback Energy in a research report on Thursday. KeyCorp reiterated a “buy” rating and issued a $113.00 price target on shares of Diamondback Energy in a research report on Wednesday, September 6th. Northland Securities set a $125.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Monday, August 21st. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Finally, BMO Capital Markets set a $110.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and an average price target of $115.87.

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Shares of Diamondback Energy, Inc. (NASDAQ FANG) opened at 93.97 on Monday. The company has a market capitalization of $9.22 billion, a P/E ratio of 25.84 and a beta of 1.08. Diamondback Energy, Inc. has a one year low of $82.77 and a one year high of $114.00. The firm has a 50 day moving average price of $91.26 and a 200 day moving average price of $95.70.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. During the same period in the prior year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 137.7% on a year-over-year basis. On average, equities research analysts predict that Diamondback Energy, Inc. will post $4.93 EPS for the current fiscal year.

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.

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

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