Diamondback Energy Inc. (FANG) COO Michael L. Hollis Sells 1,000 Shares of Stock
Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 1,000 shares of the stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Diamondback Energy Inc. (NASDAQ:FANG) opened at 96.54 on Friday. The firm’s 50-day moving average price is $94.20 and its 200-day moving average price is $88.25. Diamondback Energy Inc. has a 12-month low of $55.48 and a 12-month high of $99.69. The company’s market capitalization is $7.53 billion.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data 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. The business earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. On average, analysts expect that Diamondback Energy Inc. will post $1.02 EPS for the current fiscal year.
FANG has been the subject of several research analyst reports. Nomura reiterated a “buy” rating and issued a $17.00 price objective on shares of Diamondback Energy in a report on Monday, September 26th. Williams Capital initiated coverage on Diamondback Energy in a report on Monday, August 29th. They issued a “hold” rating and a $105.00 price objective for the company. KeyCorp increased their price objective on Diamondback Energy from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. Canaccord Genuity upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, July 20th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $104.00 price objective on shares of Diamondback Energy in a report on Thursday, August 4th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $94.86.
Several large investors have recently added to or reduced their stakes in the company. Winslow Capital Management LLC purchased a new stake in Diamondback Energy during the second quarter valued at about $255,580,000. FMR LLC boosted its stake in Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock valued at $773,449,000 after buying an additional 665,001 shares during the period. Fiera Capital Corp purchased a new stake in Diamondback Energy during the second quarter valued at about $41,604,000. TimesSquare Capital Management LLC purchased a new stake in Diamondback Energy during the first quarter valued at about $29,799,000. Finally, Magnetar Financial LLC boosted its stake in Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock valued at $57,777,000 after buying an additional 348,600 shares during the period. 99.74% of the stock is owned by institutional investors and hedge funds.
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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