Diamondback Energy Inc (NASDAQ:FANG) Director Michael P. Cross Sells 1,000 Shares
Diamondback Energy Inc (NASDAQ:FANG) Director Michael P. Cross sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $104.75, for a total value of $104,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NASDAQ FANG traded down $0.98 during trading on Thursday, reaching $97.27. The stock had a trading volume of 263,748 shares, compared to its average volume of 1,593,057. Diamondback Energy Inc has a fifty-two week low of $85.19 and a fifty-two week high of $140.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 0.82. The business’s 50-day moving average price is $97.23 and its 200-day moving average price is $102.43. The company has a market cap of $17.13 billion, a P/E ratio of 16.57, a PEG ratio of 0.51 and a beta of 0.83.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.04). Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The company’s quarterly revenue was up 93.7% compared to the same quarter last year. Analysts forecast that Diamondback Energy Inc will post 7.13 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of FANG. Archford Capital Strategies LLC grew its stake in shares of Diamondback Energy by 1,100.0% in the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 220 shares in the last quarter. Berman Capital Advisors LLC grew its stake in Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 188 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Diamondback Energy during the 2nd quarter worth $32,000. Manchester Capital Management LLC acquired a new position in Diamondback Energy during the 1st quarter worth $34,000. Finally, Commonwealth Bank of Australia boosted its position in shares of Diamondback Energy by 81.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 152 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.
FANG has been the topic of a number of research analyst reports. KeyCorp lifted their price target on Diamondback Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Morgan Stanley reduced their price objective on Diamondback Energy from $143.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Credit Suisse Group began coverage on Diamondback Energy in a research report on Monday, June 17th. They set an “outperform” rating and a $135.00 price objective on the stock. TD Securities downgraded Diamondback Energy from an “action list buy” rating to a “buy” rating and set a $155.00 price objective on the stock. in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $152.95.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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