Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 10,000 shares of the company’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $104.00, for a total value of $1,040,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Diamondback Energy Inc. (NASDAQ:FANG) opened at 104.54 on Thursday. Diamondback Energy Inc. has a 52-week low of $55.48 and a 52-week high of $106.84. The firm’s market capitalization is $8.16 billion. The company has a 50-day moving average price of $94.53 and a 200 day moving average price of $89.42.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.10. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The firm earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. During the same quarter in the previous year, the company posted $0.41 EPS. Diamondback Energy’s revenue was down 5.5% on a year-over-year basis. Analysts expect that Diamondback Energy Inc. will post $1.00 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning boosted its position in Diamondback Energy by 7.3% in the third quarter. Creative Planning now owns 1,073 shares of the company’s stock valued at $104,000 after buying an additional 73 shares during the period. Seven Eight Capital LLC bought a new position in Diamondback Energy during the second quarter valued at $119,000. Advisor Group Inc. bought a new position in Diamondback Energy during the second quarter valued at $120,000. PNC Financial Services Group Inc. boosted its position in Diamondback Energy by 56.6% in the second quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the company’s stock valued at $125,000 after buying an additional 491 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Diamondback Energy by 537.9% in the third quarter. BNP Paribas Arbitrage SA now owns 1,499 shares of the company’s stock valued at $145,000 after buying an additional 1,264 shares during the period. Hedge funds and other institutional investors own 99.74% of the company’s stock.
Several research firms recently commented on FANG. Barclays PLC upped their target price on Diamondback Energy from $88.00 to $108.00 and gave the company an “equal weight” rating in a research note on Tuesday. Canaccord Genuity reiterated a “buy” rating and issued a $116.00 target price (up from $103.00) on shares of Diamondback Energy in a research note on Tuesday. KLR Group upped their target price on Diamondback Energy from $126.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday. Wunderlich upped their price target on Diamondback Energy from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Williams Capital restated a “hold” rating and set a $112.00 price target (up from $105.00) on shares of Diamondback Energy in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $98.28.
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.
Receive News & Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.