The stock of Diamondback Energy Inc (NASDAQ:FANG) is a huge mover today! About 544,437 shares traded hands. Diamondback Energy Inc (NASDAQ:FANG) has risen 32.00% since March 11, 2016 and is uptrending. It has outperformed by 26.55% the S&P500.
The move comes after 5 months negative chart setup for the $7.90B company. It was reported on Oct, 14 by Barchart.com. We have $92.97 PT which if reached, will make NASDAQ:FANG worth $711.00M less.
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 $25.52 million for 77.39 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 30 analysts covering Diamondback Energy (NASDAQ:FANG), 25 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 83% are positive. Diamondback Energy has been the topic of 60 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Diamondback Energy Inc (NASDAQ:FANG) earned “Buy” rating by Tudor Pickering on Monday, July 27. Mizuho initiated it with “Buy” rating and $105 target price in Thursday, October 6 report. The rating was initiated by Williams Capital Group on Monday, August 29 with “Hold”. The company was upgraded on Wednesday, July 20 by Canaccord Genuity. The rating was maintained by SunTrust on Thursday, August 4 with “Buy”. The stock of Diamondback Energy Inc (NASDAQ:FANG) has “Equal-Weight” rating given on Monday, March 28 by Stephens. The stock has “Buy” rating given by Topeka Capital Markets on Tuesday, October 6. Howard Weil maintained the stock with “Sector Outperform” rating in Wednesday, January 13 report. The firm has “Buy” rating by Deutsche Bank given on Wednesday, December 2. On Tuesday, September 8 the stock rating was downgraded by Cowen & Co to “Market Perform”.
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.
Carroll Financial owns 3 shares or 0% of their US portfolio. Avalon Advsrs Ltd Liability Co holds 25,576 shares or 0.09% of its portfolio. The Connecticut-based Aqr has invested 0.01% in Diamondback Energy Inc (NASDAQ:FANG). Old Natl Retail Bank In reported 6,133 shares or 0.03% of all its holdings. Opportunities Cap Mgmt Ltd Llc accumulated 47,055 shares or 1.29% of the stock. Wells Fargo And Com Mn accumulated 1.33M shares or 0.05% of the stock. Castleark Mgmt Ltd Limited Liability Company reported 73,752 shares or 0.21% of all its holdings. The California-based Checchi Cap Advisers has invested 0.01% in Diamondback Energy Inc (NASDAQ:FANG). Magnetar Financial Lc last reported 673,600 shares in the company. Parkwood Limited Liability Company holds 0.2% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG) for 12,008 shares. Finemark State Bank & holds 402 shares or 0% of its portfolio. Bocage Ltd Liability owns 102,925 shares or 5.9% of their US portfolio. Marshall Wace Llp owns 52,840 shares or 0.04% of their US portfolio. Columbia L L C Inv Mngmt has 52,712 shares for 0.36% of their US portfolio. Teacher Retirement Sys Of Texas holds 155,239 shares or 0.1% of its portfolio.
Insider Transactions: Since May 2, 2016, the stock had 0 buys, and 20 sales for $8.79 million net activity. 3,906 shares with value of $341,913 were sold by Molnar Paul on Wednesday, May 11. 1,000 shares with value of $95,000 were sold by Hollis Michael L. on Thursday, September 29. On Monday, August 15 the insider Dick Teresa L. sold $95,708. 2,000 Diamondback Energy Inc (NASDAQ:FANG) shares with value of $172,641 were sold by Pantermuehl Russell. $177,315 worth of shares were sold by Moses Elizabeth on Monday, September 19. Stice Travis D. sold $904,887 worth of Diamondback Energy Inc (NASDAQ:FANG) on Thursday, June 30.
More recent Diamondback Energy Inc (NASDAQ:FANG) news were published by: Marketwatch.com which released: “Diamondback Energy rockets to record high after company scraps acquisition talks” on October 10, 2016. Also Marketwatch.com published the news titled: “Diamondback Energy nears deal to buy Silver Hill Energy Partners” on September 30, 2016. Zacks.com‘s news article titled: “Diamondback Energy Raises Production Guidance for 2016” with publication date: October 13, 2016 was also an interesting one.
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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