Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 2,000 shares of Diamondback Energy stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $90.39, for a total value of $180,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Diamondback Energy Inc. (NASDAQ:FANG) opened at 90.31 on Tuesday. Diamondback Energy Inc. has a 12 month low of $55.48 and a 12 month high of $99.69. The company has a 50-day moving average of $94.24 and a 200 day moving average of $87.94. The stock’s market capitalization is $7.05 billion.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $112.47 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Diamondback Energy Inc. will post $1.02 earnings per share for the current fiscal year.
A number of analysts recently commented on the company. Canaccord Genuity raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, July 20th. Nomura reaffirmed a “buy” rating and issued a $17.00 target price on shares of Diamondback Energy in a research report on Monday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $104.00 target price on shares of Diamondback Energy in a research report on Thursday, August 4th. KLR Group reaffirmed a “buy” rating and issued a $122.00 target price (up from $103.00) on shares of Diamondback Energy in a research report on Monday, July 18th. Finally, Simmons reaffirmed an “overweight” rating and issued a $106.00 target price (up from $101.00) on shares of Diamondback Energy in a research report on Tuesday, July 26th. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $94.69.
Large investors have recently modified their holdings of the company. Seven Eight Capital LLC bought a new stake in shares of Diamondback Energy during the second quarter valued at about $119,000. Advisor Group Inc. acquired a new position in shares of Diamondback Energy during the second quarter valued at $120,000. PNC Financial Services Group Inc. boosted its position in shares of 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 in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Diamondback Energy by 7.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 2,082 shares of the company’s stock valued at $161,000 after buying an additional 141 shares in the last quarter. Finally, BB&T Corp acquired a new position in shares of Diamondback Energy during the second quarter valued at $216,000. Institutional investors own 99.74% of the company’s stock.
About Diamondback Energy
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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