Diamondback Energy, Inc. (NASDAQ:FANG) insider Michael L. Hollis sold 2,000 shares of Diamondback Energy stock in a transaction on Monday, October 16th. The shares were sold at an average price of $102.44, for a total transaction of $204,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Diamondback Energy, Inc. (FANG) opened at 102.61 on Wednesday. The firm’s 50-day moving average is $95.40 and its 200 day moving average is $95.09. The company has a market capitalization of $10.07 billion, a PE ratio of 28.21 and a beta of 1.08. Diamondback Energy, Inc. has a 52 week low of $82.77 and a 52 week high of $114.00.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the 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 analyst estimates of $258.75 million. During the same period last year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 137.7% compared to the same quarter last year. On average, analysts anticipate that Diamondback Energy, Inc. will post $4.97 earnings per share for the current fiscal year.
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Several equities research analysts recently issued reports on the stock. Scotiabank set a $95.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. BidaskClub lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Wells Fargo & Company set a $120.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday. Bank of America Corporation assumed coverage on shares of Diamondback Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, Mizuho reaffirmed a “buy” rating and issued a $114.00 price objective (up previously from $109.00) on shares of Diamondback Energy in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $121.77.
A number of hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at approximately $102,000. Cubist Systematic Strategies LLC grew its holdings in shares of Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at approximately $215,000. BB&T Securities LLC bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at approximately $217,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Diamondback Energy by 1.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock valued at $224,000 after purchasing an additional 40 shares during the last quarter. 98.59% of the stock is currently owned by hedge funds and other institutional investors.
Diamondback Energy Company 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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