The stock of Diamondback Energy Inc (NASDAQ:FANG) is a huge mover today! About 1.81M shares traded hands or 67.59% up from the average. Diamondback Energy Inc (NASDAQ:FANG) has risen 24.21% since March 7, 2016 and is uptrending. It has outperformed by 16.62% the S&P500.
The move comes after 5 months positive chart setup for the $8.16 billion company. It was reported on Oct, 10 by Barchart.com. We have $150.01 PT which if reached, will make NASDAQ:FANG worth $3.51 billion more.
Analysts await Diamondback Energy Inc (NASDAQ:FANG) to report earnings on November, 1. They expect $0.33 earnings per share, down 17.50% or $0.07 from last year’s $0.4 per share. FANG’s profit will be $25.66 million for 79.50 P/E if the $0.33 EPS becomes a reality. After $0.26 actual earnings per share 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 29 analysts covering Diamondback Energy (NASDAQ:FANG), 24 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 83% are positive. Diamondback Energy has been the topic of 57 analyst reports since July 21, 2015 according to StockzIntelligence Inc. BMO Capital Markets initiated the stock with “Outperform” rating in Friday, January 29 report. The firm has “Buy” rating given on Thursday, October 6 by Mizuho. Barclays Capital maintained the stock with “Equalweight” rating in Thursday, July 14 report. The firm earned “Sector Perform” rating on Monday, August 17 by Iberia Capital Partners. As per Monday, March 28, the company rating was downgraded by Stephens. Wunderlich maintained the shares of FANG in a report on Thursday, January 14 with “Buy” rating. The rating was maintained by Topeka Capital Markets with “Buy” on Wednesday, November 4. The firm has “Buy” rating by Canaccord Genuity given on Wednesday, July 20. The stock has “Buy” rating given by Canaccord Genuity on Thursday, February 18. The firm has “Market Perform” rating by Cowen & Co given on Tuesday, September 8.
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 2016 Q2. Its down 0.41, from 1.44 in 2016Q1. The ratio worsened, 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.
Boothbay Fund Mngmt Ltd Liability Com last reported 5,376 shares in the company. First Personal Fincl Serv holds 249 shares or 0.01% of its portfolio. Focused Wealth accumulated 0.01% or 125 shares. Loomis Sayles & Company L P last reported 0.08% of its portfolio in the stock. Secor Advisors Limited Partnership holds 0.18% or 15,411 shares in its portfolio. Investors holds 0.03% or 1.03M shares in its portfolio. Tiger Eye Capital Limited Company last reported 94,605 shares in the company. Fmr Lc last reported 8.48M shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 2,141 shares or 0% of the stock. Bluecrest holds 0.19% or 49,475 shares in its portfolio. Ci Invs has 0.01% invested in the company for 9,700 shares. Wells Fargo & Mn last reported 0.05% of its portfolio in the stock. Capital Fund Management holds 4,433 shares or 0% of its portfolio. Deutsche Fincl Bank Ag, a Germany-based fund reported 116,403 shares. Moreover, Citadel Advisors Ltd Liability Co has 0% invested in Diamondback Energy Inc (NASDAQ:FANG) for 11,513 shares.
Insider Transactions: Since April 11, 2016, the stock had 0 insider purchases, and 19 sales for $7.75 million net activity. 2,000 shares with value of $170,679 were sold by Pantermuehl Russell on Monday, August 1. Hollis Michael L. also sold $363,912 worth of Diamondback Energy Inc (NASDAQ:FANG) on Friday, July 1. Shares for $95,708 were sold by Dick Teresa L.. $433,577 worth of shares were sold by Molnar Paul on Thursday, May 26. Shares for $2.94M were sold by Stice Travis D.. The insider Moses Elizabeth sold 2,000 shares worth $177,315.
More news for Diamondback Energy Inc (NASDAQ:FANG) were recently published by: Globenewswire.com, which released: “Diamondback Energy, Inc. Provides Preliminary Third Quarter 2016 Financial and …” on October 10, 2016. Marketwatch.com‘s article titled: “Diamondback Energy nears deal to buy Silver Hill Energy Partners” and published on September 30, 2016 is yet another important article.
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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