Diamondback Energy, Inc. (NASDAQ:FANG) insider Michael L. Hollis sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $102.44, for a total value of $204,880.00. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Diamondback Energy, Inc. (NASDAQ FANG) traded up 0.01% during midday trading on Tuesday, hitting $102.61. The company’s stock had a trading volume of 750,991 shares. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 28.21 and a beta of 1.08. Diamondback Energy, Inc. has a 12-month low of $82.77 and a 12-month high of $114.00. The firm has a 50-day moving average of $95.40 and a 200 day moving average of $95.09.
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, topping 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 firm had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. During the same period in the previous year, the firm posted $0.26 EPS. Diamondback Energy’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 $4.97 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fulton Bank N.A. acquired a new position in Diamondback Energy during the 3rd quarter worth $305,000. Benefit Street Partners LLC acquired a new position in Diamondback Energy during the 2nd quarter worth $3,552,000. Sentry Investment Management LLC acquired a new position in Diamondback Energy during the 2nd quarter worth $215,000. Public Employees Retirement System of Ohio grew its stake in Diamondback Energy by 4.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 101,673 shares of the oil and natural gas company’s stock worth $9,030,000 after purchasing an additional 4,506 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC grew its stake in Diamondback Energy by 1.1% during the 2nd quarter. Energy Opportunities Capital Management LLC now owns 16,000 shares of the oil and natural gas company’s stock worth $1,421,000 after purchasing an additional 170 shares in the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on FANG. SunTrust Banks, Inc. set a $120.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company set a $120.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday. Scotiabank set a $95.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Mizuho reissued a “buy” rating and set a $114.00 target price (up previously from $109.00) on shares of Diamondback Energy in a research report on Thursday, August 3rd. Finally, BMO Capital Markets set a $110.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, October 10th. One investment 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. Diamondback Energy has an average rating of “Buy” and a consensus target price of $121.65.
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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