Diamondback Energy, Inc. (FANG) Insider Sells $204,880.00 in Stock

Diamondback Energy, Inc. (NASDAQ:FANG) insider Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $102.44, for a total transaction of $204,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Diamondback Energy, Inc. (FANG) opened at 101.59 on Friday. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 27.93 and a beta of 1.08. The company’s 50-day moving average is $96.80 and its 200 day moving average is $95.18. Diamondback Energy, Inc. has a 12 month low of $82.77 and a 12 month high of $114.00.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $258.75 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The business’s revenue was up 137.7% on a year-over-year basis. Equities analysts forecast that Diamondback Energy, Inc. will post $5.00 earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its position in Diamondback Energy by 1.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock worth $224,000 after acquiring an additional 40 shares during the last quarter. Green Square Capital LLC boosted its position in Diamondback Energy by 1.2% during the 2nd quarter. Green Square Capital LLC now owns 3,531 shares of the oil and natural gas company’s stock worth $314,000 after acquiring an additional 42 shares during the last quarter. Profund Advisors LLC boosted its position in Diamondback Energy by 1.5% during the 2nd quarter. Profund Advisors LLC now owns 4,163 shares of the oil and natural gas company’s stock worth $370,000 after acquiring an additional 62 shares during the last quarter. American International Group Inc. boosted its position in Diamondback Energy by 5.8% during the 1st quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after acquiring an additional 126 shares during the last quarter. Finally, AT Bancorp boosted its position in Diamondback Energy by 1.8% during the 2nd quarter. AT Bancorp now owns 8,475 shares of the oil and natural gas company’s stock worth $753,000 after acquiring an additional 151 shares during the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.

FANG has been the subject of several recent analyst reports. Roth Capital raised their target price on shares of Diamondback Energy from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Northland Securities set a $125.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Monday, July 17th. Bank of America Corporation initiated coverage on shares of Diamondback Energy in a report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 target price for the company. Scotiabank set a $95.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $100.00 target price on shares of Diamondback Energy in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $122.13.

Diamondback Energy Company Profile

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.

Insider Buying and Selling by Quarter for Diamondback Energy (NASDAQ:FANG)

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