Polaris Capital Management LLC maintained its stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,670 shares of the oil and natural gas company’s stock at the close of the second quarter. Polaris Capital Management LLC’s holdings in Diamondback Energy were worth $1,480,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Prudential Financial Inc. increased its position in Diamondback Energy by 8.4% in the 1st 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 bought a new position in Diamondback Energy in the 1st quarter worth approximately $452,000. American International Group Inc. increased its position in Diamondback Energy by 5.8% in the 1st 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. Cornerstone Capital Management Holdings LLC. increased its position in Diamondback Energy by 71.7% in the 1st 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. Finally, Alliancebernstein L.P. increased its position in Diamondback Energy by 9.7% in the 1st quarter. Alliancebernstein L.P. now owns 57,230 shares of the oil and natural gas company’s stock worth $5,936,000 after buying an additional 5,053 shares during the period.

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Several research analysts have commented on the company. KeyCorp reaffirmed a “buy” rating and issued a $113.00 price target on shares of Diamondback Energy in a research report on Thursday. Barclays PLC lifted their price target on Diamondback Energy from $105.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets set a $110.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Monday. Finally, Jefferies Group LLC assumed coverage on Diamondback Energy in a research report on Monday. They issued a “buy” rating and a $124.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $121.09.

Diamondback Energy, Inc. (FANG) traded down 0.08% during trading on Friday, reaching $101.04. The company’s stock had a trading volume of 172,073 shares. The company’s 50 day moving average price is $94.86 and its 200-day moving average price is $95.17. Diamondback Energy, Inc. has a 1-year low of $82.77 and a 1-year high of $114.00. The stock has a market cap of $9.92 billion, a P/E ratio of 27.78 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The company had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. During the same quarter last year, the business posted $0.26 EPS. Diamondback Energy’s revenue for the quarter was up 137.7% on a year-over-year basis. Equities analysts forecast that Diamondback Energy, Inc. will post $4.96 earnings per share for the current fiscal year.

In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total transaction of $57,518.50. Following the transaction, the vice president now directly owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Molnar sold 5,000 shares of Diamondback Energy stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the transaction, the vice president now directly owns 42,563 shares in the company, valued at $4,045,187.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,805 shares of company stock worth $1,129,501. 0.41% of the stock is currently owned by company insiders.

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.

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

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