Stock Worth Watching: What’s Next for Diamondback Energy Inc After Today’s Significant Decline?

Stock Worth Watching: What's Next for Diamondback Energy Inc After Today's Significant Decline?

The stock of Diamondback Energy Inc (NASDAQ:FANG) is a huge mover today! The stock decreased 4.15% or $4.01 during the last trading session, hitting $92.53. About 2.36M shares traded hands or 151.33% up from the average. Diamondback Energy Inc (NASDAQ:FANG) has risen 27.65% since March 1, 2016 and is uptrending. It has outperformed by 15.43% the S&P500.
The move comes after 6 months negative chart setup for the $7.30 billion company. It was reported on Oct, 4 by Barchart.com. We have $86.98 PT which if reached, will make NASDAQ:FANG worth $438.00 million less.

Analysts await Diamondback Energy Inc (NASDAQ:FANG) to report earnings on November, 1. They expect $0.33 EPS, down 17.50% or $0.07 from last year’s $0.4 per share. FANG’s profit will be $26.03M for 70.10 P/E if the $0.33 EPS becomes a reality. After $0.26 actual EPS reported by Diamondback Energy Inc for the previous quarter, Wall Street now forecasts 26.92% EPS growth.

Diamondback Energy Inc (NASDAQ:FANG) Ratings Coverage

Out of 28 analysts covering Diamondback Energy (NASDAQ:FANG), 23 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 82% are positive. Diamondback Energy has been the topic of 56 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Equal-Weight” rating on Tuesday, September 8 by Barclays Capital. The stock of Diamondback Energy Inc (NASDAQ:FANG) has “Buy” rating given on Wednesday, August 10 by Deutsche Bank. JP Morgan initiated Diamondback Energy Inc (NASDAQ:FANG) on Wednesday, December 9 with “Overweight” rating. KeyBanc Capital Markets initiated the stock with “Overweight” rating in Friday, August 14 report. The rating was initiated by Canaccord Genuity on Tuesday, October 20 with “Buy”. The company was maintained on Thursday, July 14 by Morgan Stanley. Goldman Sachs maintained the shares of FANG in a report on Tuesday, March 29 with “Buy” rating. The rating was maintained by Topeka Capital Markets on Wednesday, November 4 with “Buy”. The firm earned “Buy” rating on Tuesday, June 14 by Deutsche Bank. The stock of Diamondback Energy Inc (NASDAQ:FANG) earned “Equal-Weight” rating by Stephens on Monday, March 28.

According to Zacks Investment Research, “Diamondback Energy, Inc. is an oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations. Diamondback Energy, Inc. is headquartered in Midland, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in Q2 2016. Its down 0.41, from 1.44 in 2016Q1. The ratio dropped, as 35 funds sold all Diamondback Energy Inc shares owned while 104 reduced positions. 49 funds bought stakes while 94 increased positions. They now own 75.97 million shares or 2.70% less from 78.08 million shares in 2016Q1.
Putnam Invests Ltd Liability Corp has invested 0.13% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG). Geode Cap Mgmt Ltd Liability Corporation last reported 0.02% of its portfolio in the stock. Aperio Group Ltd Llc owns 13,869 shares or 0.01% of their US portfolio. Rs Invest Mgmt Co Limited last reported 0.34% of its portfolio in the stock. Artemis Investment Mngmt Limited Liability Partnership last reported 0.03% of its portfolio in the stock. Glg Prtnrs Ltd Partnership has 26,834 shares for 0.07% of their US portfolio. Summit Secs Group, a New York-based fund reported 3,292 shares. Trexquant Invest L P holds 0.33% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG) for 27,300 shares. Us State Bank De holds 0.01% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG) for 24,085 shares. Victory Cap Inc has invested 0.36% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG). Essex Management Lc owns 53,781 shares or 0.82% of their US portfolio. Fifth Third Commercial Bank accumulated 0.01% or 14,292 shares. Columbia Wanger Asset Mgmt Ltd Limited Liability Company holds 0.48% or 453,480 shares in its portfolio. Moreover, Cambrian Capital Lp has 3.55% invested in Diamondback Energy Inc (NASDAQ:FANG) for 65,350 shares. Old Natl Comml Bank In has invested 0.03% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG).

Insider Transactions: Since April 11, 2016, the stock had 0 insider buys, and 20 sales for $8.31 million net activity. $177,315 worth of Diamondback Energy Inc (NASDAQ:FANG) was sold by Moses Elizabeth on Monday, September 19. 6,000 Diamondback Energy Inc (NASDAQ:FANG) shares with value of $486,723 were sold by Pantermuehl Russell. Stice Travis D. sold 10,000 shares worth $904,887. The insider Molnar Paul sold 4,665 shares worth $408,235. Dick Teresa L. sold 2,000 shares worth $176,028. Another trade for 4,000 shares valued at $363,912 was made by Hollis Michael L. on Friday, July 1.

Another recent and important Diamondback Energy Inc (NASDAQ:FANG) news was published by Marketwatch.com which published an article titled: “Diamondback Energy nears deal to buy Silver Hill Energy Partners” on September 30, 2016.

FANG Company Profile

Diamondback Energy, Inc., incorporated on December 30, 2011, is an independent oil and natural gas company. The Firm is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company’s total net acreage position in the Permian Basin is approximately 84,680 net acres. The Company, through its subsidiary Viper Energy Partners LP (Viper), owns mineral interests underlying approximately 46,560 gross (17,060 net) acres primarily in Midland County, Texas in the Permian Basin. Approximately 60% of these net acres are operated by the Company. It has drilled or participated in the drilling 490 gross wells on its leasehold acreage in Permian Basin area, primarily targeting the Wolfberry play. The Permian Basin area covers a portion of western Texas and eastern New Mexico.

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