Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 10,000 shares of the stock in a transaction on Monday, October 10th. The shares were sold at an average price of $104.00, for a total value of $1,040,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Diamondback Energy Inc. (NASDAQ:FANG) traded down 0.29% during midday trading on Wednesday, hitting $104.54. The stock had a trading volume of 1,361,390 shares. The company’s market cap is $8.16 billion. Diamondback Energy Inc. has a 52 week low of $55.48 and a 52 week high of $106.84. The stock’s 50-day moving average price is $94.53 and its 200 day moving average price is $89.42.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $112.47 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities analysts forecast that Diamondback Energy Inc. will post $1.00 earnings per share for the current year.

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

Several hedge funds have recently added to or reduced their stakes in FANG. BlackRock Fund Advisors raised its stake in 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 worth $35,981,000 after buying an additional 49,821 shares during the last quarter. 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 worth $1,838,000 after buying an additional 744 shares during the last quarter. 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 worth $57,777,000 after buying an additional 348,600 shares during the last quarter. 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 worth $10,064,000 after buying an additional 22,155 shares during the last quarter. Hedge funds and other institutional investors own 99.74% of the company’s stock.

Several research firms have recently issued reports on FANG. SunTrust Banks Inc. raised their price target on Diamondback Energy from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. KLR Group restated a “buy” rating and issued a $122.00 price target (up from $103.00) on shares of Diamondback Energy in a research report on Monday, July 18th. Wunderlich raised their price target on Diamondback Energy from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. restated a “buy” rating on shares of Diamondback Energy in a research report on Monday, July 18th. Finally, BMO Capital Markets restated a “buy” rating and issued a $95.00 price target on shares of Diamondback Energy in a research report on Wednesday, August 3rd. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $98.28.

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.

5 Day Chart for NASDAQ:FANG

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