Michael L. Hollis Sells 1,000 Shares of Diamondback Energy Inc. (FANG) Stock
Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 29th. The stock was 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 available through the SEC website.
Shares of Diamondback Energy Inc. (NASDAQ:FANG) opened at 96.54 on Friday. The stock’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 stock’s market capitalization is $7.53 billion.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $112.47 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities analysts forecast that Diamondback Energy Inc. will post $1.02 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the company. KeyCorp increased their target price on Diamondback Energy from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, August 22nd. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Friday. Williams Capital assumed coverage on Diamondback Energy in a research note on Monday, August 29th. They issued a “hold” rating and a $105.00 price objective for the company. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Diamondback Energy in a research note on Wednesday, June 8th. Finally, Simmons reaffirmed an “overweight” rating and issued a $109.00 price objective (up from $106.00) on shares of Diamondback Energy in a research note on Saturday, August 13th. Seven investment 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 stock presently has a consensus rating of “Buy” and an average price target of $94.86.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its position in shares of Diamondback Energy by 3.3% in the first quarter. BlackRock Fund Advisors now owns 798,166 shares of the company’s stock worth $61,602,000 after buying an additional 25,366 shares during the last quarter. Geode Capital Management LLC raised its stake in Diamondback Energy by 12.0% in the first quarter. Geode Capital Management LLC now owns 466,203 shares of the company’s stock valued at $35,981,000 after buying an additional 49,821 shares during the period. Nuveen Asset Management LLC raised its stake in Diamondback Energy by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 23,811 shares of the company’s stock valued at $1,838,000 after buying an additional 744 shares during the period. Magnetar Financial LLC raised 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. Finally, BlackRock Group LTD raised its stake in Diamondback Energy by 20.5% in the first quarter. BlackRock Group LTD now owns 130,421 shares of the company’s stock valued at $10,064,000 after buying an additional 22,155 shares during the period. 99.74% of the stock is currently owned by hedge funds and other institutional investors.
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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