Diamondback Energy Inc (NASDAQ:FANG) Director Steven E. West acquired 2,400 shares of the stock in a transaction on Wednesday, May 17th. The shares were acquired at an average price of $103.45 per share, with a total value of $248,280.00. Following the purchase, the director now owns 2,400 shares in the company, valued at $248,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Diamondback Energy Inc (NASDAQ:FANG) traded up 1.24% on Friday, reaching $102.88. The company had a trading volume of 791,610 shares. Diamondback Energy Inc has a one year low of $82.80 and a one year high of $114.00. The company has a 50-day moving average of $102.28 and a 200 day moving average of $102.06. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 2188.94 and a beta of 1.12.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.43. The business had revenue of $235.23 million for the quarter, compared to analyst estimates of $218.62 million. Diamondback Energy had a positive return on equity of 4.26% and a negative net margin of 82.83%. On average, equities research analysts predict that Diamondback Energy Inc will post $4.50 EPS for the current year.
FANG has been the subject of a number of recent analyst reports. Scotiabank restated a “buy” rating and set a $121.00 price objective on shares of Diamondback Energy in a research note on Monday, March 27th. Zacks Investment Research lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Monday, February 13th. Stifel Nicolaus assumed coverage on Diamondback Energy in a research report on Wednesday, April 12th. They issued a “buy” rating and a $123.00 target price for the company. Barclays PLC reiterated an “equal weight” rating and issued a $110.00 target price (down previously from $123.00) on shares of Diamondback Energy in a research report on Saturday, April 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $139.00 target price on shares of Diamondback Energy in a research report on Tuesday, February 14th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $115.68.
A number of large investors have recently added to or reduced their stakes in the company. Capital Fund Management S.A. raised its stake in Diamondback Energy by 38.3% in the third quarter. Capital Fund Management S.A. now owns 6,130 shares of the oil and natural gas company’s stock worth $592,000 after buying an additional 1,697 shares during the period. Advisors Asset Management Inc. raised its stake in Diamondback Energy by 40.9% in the third quarter. Advisors Asset Management Inc. now owns 24,838 shares of the oil and natural gas company’s stock worth $2,398,000 after buying an additional 7,215 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in Diamondback Energy during the third quarter worth approximately $936,000. Northeast Investment Management raised its stake in Diamondback Energy by 29.7% in the third quarter. Northeast Investment Management now owns 9,935 shares of the oil and natural gas company’s stock worth $959,000 after buying an additional 2,277 shares during the period. Finally, LMR Partners LLP acquired a new stake in Diamondback Energy during the third quarter worth approximately $1,239,000. Institutional investors and hedge funds own 95.51% of the company’s stock.
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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