Stock of the Day: Does Diamondback Energy Inc Have More Gas After Making 52-Week High?

Stock of the Day: Does Diamondback Energy Inc Have More Gas After Making 52 Week High?

The stock of Diamondback Energy Inc (NASDAQ:FANG) hit a new 52-week high and has $147.97 target or 41.00% above today’s $104.94 share price. The 7 months bullish chart indicates low risk for the $8.16 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $147.97 price target is reached, the company will be worth $3.35B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 761,185 shares traded hands. 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.

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 $25.66M for 79.59 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 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. The company was maintained on Friday, August 7 by Northland Capital. The stock of Diamondback Energy Inc (NASDAQ:FANG) has “Buy” rating given on Wednesday, July 20 by Canaccord Genuity. The rating was initiated by Iberia Capital Partners with “Outperform” on Friday, January 29. The stock of Diamondback Energy Inc (NASDAQ:FANG) earned “Buy” rating by SunTrust on Thursday, August 4. Nomura initiated Diamondback Energy Inc (NASDAQ:FANG) on Thursday, December 3 with “Buy” rating. Wunderlich maintained Diamondback Energy Inc (NASDAQ:FANG) on Thursday, January 14 with “Buy” rating. Barclays Capital maintained the shares of FANG in a report on Thursday, July 14 with “Equalweight” rating. On Monday, August 17 the stock rating was downgraded by Iberia Capital Partners to “Sector Perform”. The stock of Diamondback Energy Inc (NASDAQ:FANG) has “Buy” rating given on Monday, July 27 by Tudor Pickering. Roth Capital maintained Diamondback Energy Inc (NASDAQ:FANG) rating on Tuesday, November 17. Roth Capital has “Buy” rating and $92 price target.

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 dived, 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.
The Illinois-based First American Bank & Trust has invested 0.04% in Diamondback Energy Inc (NASDAQ:FANG). The Mississippi-based Hancock Communication has invested 0.44% in Diamondback Energy Inc (NASDAQ:FANG). Moreover, Cambrian Cap Limited Partnership has 3.55% invested in Diamondback Energy Inc (NASDAQ:FANG) for 65,350 shares. The Texas-based Bbt Capital Ltd has invested 0.16% in Diamondback Energy Inc (NASDAQ:FANG). Moreover, Natl Planning Corporation has 0.02% invested in Diamondback Energy Inc (NASDAQ:FANG) for 2,800 shares. Moreover, Ubs Asset Management Americas has 0.01% invested in Diamondback Energy Inc (NASDAQ:FANG) for 109,256 shares. Loomis Sayles Limited Partnership holds 0.08% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG) for 305,426 shares. Fil Limited holds 0.14% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG) for 472,690 shares. Checchi Advisers Ltd Liability last reported 924 shares in the company. First Tru Advsrs Lp last reported 47,165 shares in the company. Strs Ohio, a Ohio-based fund reported 165,000 shares. Moreover, Rr Advisors Lc has 0.94% invested in Diamondback Energy Inc (NASDAQ:FANG) for 69,000 shares. Vollero Beach Cap Prtn Llc owns 88,300 shares or 1.84% of their US portfolio. Moreover, Voloridge Invest Lc has 0.08% invested in Diamondback Energy Inc (NASDAQ:FANG) for 32,137 shares. Schwab Charles Invest Mgmt reported 223,321 shares or 0.03% of all its holdings.

Insider Transactions: Since April 11, 2016, the stock had 0 buys, and 19 sales for $7.75 million net activity. Molnar Paul sold $408,235 worth of stock. $2.94M worth of Diamondback Energy Inc (NASDAQ:FANG) shares were sold by Stice Travis D.. Shares for $160,879 were sold by Hollis Michael L.. Another trade for 5,000 shares valued at $455,428 was sold by Dick Teresa L.. 2,000 Diamondback Energy Inc (NASDAQ:FANG) shares with value of $177,315 were sold by Moses Elizabeth. Another trade for 2,000 shares valued at $170,679 was sold by Pantermuehl Russell.

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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