The stock of Diamondback Energy Inc (NASDAQ:FANG) reached all time high today, Oct, 10 and still has $130.00 target or 25.00% above today’s $104.00 share price. This indicates more upside for the $8.09 billion company. This technical setup was reported by Barchart.com. If the $130.00 PT is reached, the company will be worth $2.02 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 1.56 million shares traded hands or 44.44% 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.
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 78.73 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. Northland Capital maintained the shares of FANG in a report on Thursday, November 5 with “Outperform” rating. The firm earned “Outperform” rating on Friday, January 29 by Iberia Capital Partners. The stock of Diamondback Energy Inc (NASDAQ:FANG) has “Overweight” rating given on Monday, July 11 by Piper Jaffray. The firm has “Buy” rating by Canaccord Genuity given on Wednesday, July 20. As per Tuesday, March 15, the company rating was maintained by JP Morgan. The firm has “Buy” rating given on Thursday, December 3 by Nomura. On Wednesday, December 9 the stock rating was initiated by JP Morgan with “Overweight”. As per Thursday, July 14, the company rating was maintained by Barclays Capital. The rating was maintained by Deutsche Bank with “Buy” on Tuesday, June 14. Williams Capital Group initiated Diamondback Energy Inc (NASDAQ:FANG) rating on Monday, August 29. Williams Capital Group has “Hold” rating and $105 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 turned negative, 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.
Old Natl Fincl Bank In has 0.03% invested in the company for 6,133 shares. Mackenzie Fin last reported 0.02% of its portfolio in the stock. Rs Invest Mgmt Limited Liability Co owns 366,158 shares or 0.34% of their US portfolio. First Mercantile Tru Communication accumulated 0.15% or 12,800 shares. Ibm Retirement Fund reported 7,238 shares or 0.02% of all its holdings. The Connecticut-based Discovery Cap Ltd Liability Company Ct has invested 1.33% in Diamondback Energy Inc (NASDAQ:FANG). Millennium Ltd Liability last reported 168,787 shares in the company. Van Eck Assocs reported 2.13 million shares or 1% of all its holdings. State Bank Of America Corp De has 555,240 shares for 0.01% of their US portfolio. Moreover, Deutsche Savings Bank Ag has 0.01% invested in Diamondback Energy Inc (NASDAQ:FANG) for 116,403 shares. Suntrust Banks accumulated 0% or 4,400 shares. Wolverine Asset Mgmt Ltd Llc has 600 shares for 0% of their US portfolio. Price T Rowe Associates Inc Md, a Maryland-based fund reported 2.61 million shares. Columbus Circle Investors last reported 0.39% of its portfolio in the stock. The Ontario – Canada-based Td Asset Inc has invested 0% in Diamondback Energy Inc (NASDAQ:FANG).
Insider Transactions: Since April 11, 2016, the stock had 0 insider purchases, and 19 selling transactions for $7.75 million net activity. Molnar Paul sold $408,235 worth of stock. The insider Hollis Michael L. sold $180,784. The insider Pantermuehl Russell sold $172,641. Shares for $455,428 were sold by Dick Teresa L. on Thursday, May 26. Stice Travis D. sold $904,887 worth of stock or 10,000 shares. 2,000 shares were sold by Moses Elizabeth, worth $177,315 on Monday, September 19.
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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