Hof Matthew Kaes Van’t Sells 650 Shares of Diamondback Energy, Inc. (FANG) Stock
Diamondback Energy, Inc. (NASDAQ:FANG) VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total transaction of $57,518.50. Following the completion of the transaction, the vice president now owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Diamondback Energy, Inc. (NASDAQ FANG) opened at 91.92 on Friday. The firm’s 50-day moving average is $91.66 and its 200-day moving average is $96.57. Diamondback Energy, Inc. has a 12-month low of $82.77 and a 12-month high of $114.00. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 25.27 and a beta of 1.08.
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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. During the same quarter last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 137.7% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post $4.93 earnings per share for the current fiscal year.
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A number of research firms have recently issued reports on FANG. Scotiabank set a $95.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. BidaskClub cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Northland Securities set a $125.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Monday, August 21st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $141.00 target price on shares of Diamondback Energy in a research note on Thursday, May 25th. Finally, Bank of America Corporation began coverage on shares of Diamondback Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $115.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $117.32.
A number of institutional investors have recently made changes to their positions in FANG. Toronto Dominion Bank increased its position in shares of Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock worth $100,000 after buying an additional 201 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Diamondback Energy during the second quarter worth approximately $102,000. State of Alaska Department of Revenue bought a new stake in Diamondback Energy during the first quarter worth approximately $180,000. Cubist Systematic Strategies LLC boosted its stake in Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after buying an additional 700 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in Diamondback Energy during the first quarter worth approximately $201,000.
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.
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