Diamondback Energy Inc. (FANG) COO Michael L. Hollis Sells 2,000 Shares
Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $90.39, for a total transaction of $180,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Diamondback Energy Inc. (NASDAQ:FANG) opened at 88.53 on Wednesday. The stock’s market cap is $6.91 billion. The firm 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 1-year low of $55.48 and a 1-year high of $99.69.
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, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The company earned $112.48 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, equities research analysts anticipate that Diamondback Energy Inc. will post $1.02 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. 1832 Asset Management L.P. bought a new stake in shares of Diamondback Energy during the first quarter valued at about $2,248,000. M&T Bank Corp raised its position in shares of Diamondback Energy by 31.0% in the first quarter. M&T Bank Corp now owns 4,770 shares of the company’s stock valued at $368,000 after buying an additional 1,128 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Diamondback Energy during the first quarter valued at approximately $3,479,000. TimesSquare Capital Management LLC acquired a new position in shares of Diamondback Energy during the first quarter valued at approximately $29,799,000. Finally, Columbia Partners L L C Investment Management raised its position in shares of Diamondback Energy by 47.2% in the first quarter. Columbia Partners L L C Investment Management now owns 101,149 shares of the company’s stock valued at $7,806,000 after buying an additional 32,429 shares during the period. Institutional investors own 99.74% of the company’s stock.
FANG has been the subject of several analyst reports. Roth Capital reissued a “hold” rating on shares of Diamondback Energy in a report on Tuesday, July 12th. Barclays PLC increased their target price on shares of Diamondback Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, July 14th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Diamondback Energy in a report on Monday, July 18th. Wunderlich increased their target price on shares of Diamondback Energy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. Finally, Deutsche Bank AG increased their target price on shares of Diamondback Energy from $104.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Seven 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 stock. The company presently has a consensus rating of “Buy” and a consensus target price of $94.69.
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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