Stock Mover of the Day: Could Diamondback Energy Inc Change Direction After Today’s Big Increase?

Stock Mover of the Day: Could Diamondback Energy Inc Change Direction After Today's Big Increase?

The stock of Diamondback Energy Inc (NASDAQ:FANG) is a huge mover today! About 1.90M shares traded hands or 59.66% up from the average. Diamondback Energy Inc (NASDAQ:FANG) has risen 7.88% since April 27, 2016 and is uptrending. It has outperformed by 2.66% the S&P500.
The move comes after 8 months positive chart setup for the $8.17B company. It was reported on Nov, 30 by Barchart.com. We have $113.54 PT which if reached, will make NASDAQ:FANG worth $571.90M more.

Analysts await Diamondback Energy Inc (NASDAQ:FANG) to report earnings on February, 21. They expect $0.51 EPS, down 12.07% or $0.07 from last year’s $0.58 per share. FANG’s profit will be $39.27 million for 52.01 P/E if the $0.51 EPS becomes a reality. After $0.54 actual EPS reported by Diamondback Energy Inc for the previous quarter, Wall Street now forecasts -5.56% negative 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. As per Wednesday, November 4, the company rating was maintained by Topeka Capital Markets. The company was upgraded on Monday, July 27 by Tudor Pickering. TH Capital maintained the shares of FANG in a report on Tuesday, November 17 with “Buy” rating. Topeka Capital Markets maintained the stock with “Buy” rating in Wednesday, January 13 report. The firm has “Buy” rating by Mizuho given on Thursday, October 6. As per Wednesday, December 2, the company rating was initiated by Deutsche Bank. The firm has “Buy” rating by Wunderlich given on Tuesday, October 11. Cowen & Co upgraded Diamondback Energy Inc (NASDAQ:FANG) on Thursday, January 14 to “Outperform” rating. Iberia Capital Partners initiated Diamondback Energy Inc (NASDAQ:FANG) on Friday, January 29 with “Outperform” rating. The stock has “Overweight” rating given by JP Morgan on Wednesday, December 9.

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 increased to 1.28 in Q2 2016. Its up 0.25, from 1.03 in 2016Q1. The ratio improved, 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.
Seven Eight Cap Lc reported 1,300 shares or 0.04% of all its holdings. The New York-based Goldman Sachs Group has invested 0.02% in Diamondback Energy Inc (NASDAQ:FANG). Virginia Retirement Et Al accumulated 11,400 shares or 0.02% of the stock. Raymond James And Assoc last reported 0.04% of its portfolio in the stock. Parkwood Ltd Liability holds 12,008 shares or 0.2% of its portfolio. Tiaa Cref Ltd Liability Corporation holds 986,508 shares or 0.07% of its portfolio. First National Bank reported 4,615 shares or 0.04% of all its holdings. Cupps Mngmt Llc holds 7,330 shares or 0.17% of its portfolio. Acadian Asset Mgmt Ltd Liability Com holds 0% or 69 shares in its portfolio. Huntington Retail Bank has 0% invested in the company for 427 shares. 1832 Asset L P holds 0.01% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG) for 16,900 shares. Assetmark, a California-based fund reported 3 shares. Viking Fund Management Ltd Liability Corporation accumulated 180,000 shares or 2.85% of the stock. Icon Advisers holds 0.28% or 44,550 shares in its portfolio. Great West Life Assurance Can last reported 7,942 shares in the company.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 12 sales for $6.42 million net activity. $181,914 worth of shares were sold by Pantermuehl Russell on Friday, July 1. On Thursday, November 17 Dick Teresa L. sold $250,013 worth of the stock or 2,500 shares. Shares for $177,315 were sold by Moses Elizabeth. Stice Travis D. also sold $904,887 worth of Diamondback Energy Inc (NASDAQ:FANG) on Thursday, June 30. Hollis Michael L. also sold $1.04 million worth of Diamondback Energy Inc (NASDAQ:FANG) on Monday, October 10.

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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