Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 2,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $90.39, for a total value of $180,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Diamondback Energy Inc. (NASDAQ:FANG) opened at 88.53 on Wednesday. The stock has a 50 day moving average price of $94.10 and a 200-day moving average price of $88.01. Diamondback Energy Inc. has a 12 month low of $55.48 and a 12 month high of $99.69. The stock’s market cap is $6.91 billion.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The firm earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, analysts forecast that Diamondback Energy Inc. will post $1.02 EPS for the current fiscal year.
A number of research firms have recently commented on FANG. SunTrust Banks Inc. increased their price objective on Diamondback Energy from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 4th. KLR Group reiterated a “buy” rating and issued a $122.00 price objective (up previously from $103.00) on shares of Diamondback Energy in a report on Monday, July 18th. Nomura reiterated a “buy” rating and issued a $17.00 price objective on shares of Diamondback Energy in a report on Monday. JPMorgan Chase & Co. restated a “buy” rating on shares of Diamondback Energy in a research note on Monday, July 18th. Finally, BMO Capital Markets restated a “buy” rating and set a $95.00 price target on shares of Diamondback Energy in a research note on Wednesday, August 3rd. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $94.69.
A number of large investors have recently added to or reduced their stakes in FANG. Macquarie Group Ltd. increased its stake in Diamondback Energy by 17.4% in the second quarter. Macquarie Group Ltd. now owns 151,043 shares of the company’s stock worth $13,777,000 after buying an additional 22,409 shares during the period. Harbour Capital Advisors LLC purchased a new stake in Diamondback Energy during the second quarter worth $748,000. Sanctuary Wealth Advisors LLC purchased a new stake in Diamondback Energy during the second quarter worth $3,453,000. CI Investments Inc. purchased a new stake in Diamondback Energy during the second quarter worth $885,000. Finally, Public Employees Retirement System of Ohio increased its stake in Diamondback Energy by 2.2% in the second quarter. Public Employees Retirement System of Ohio now owns 78,516 shares of the company’s stock worth $7,161,000 after buying an additional 1,724 shares during the period. Hedge funds and other institutional investors own 99.74% of the company’s stock.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
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