Insider Selling: Travis D. Stice Sells 75,000 Shares of Diamondback Energy Stock (FANG)
Diamondback Energy (NASDAQ:FANG) CEO Travis D. Stice unloaded 75,000 shares of the stock on the open market in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $89.24, for a total transaction of $6,693,000.00. Following the transaction, the chief executive officer now directly owns 14,705 shares of the company’s stock, valued at approximately $1,312,274. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Diamondback Energy in a research note on Tuesday. They set a “buy” rating and a $108.00 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Diamondback Energy from $85.00 to $110.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at SunTrust reiterated a “buy” rating on shares of Diamondback Energy in a research note on Wednesday, June 25th. They now have a $102.00 price target on the stock, up previously from $89.00. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $84.53.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 0.59% during mid-day trading on Thursday, hitting $88.81. 596,838 shares of the company’s stock traded hands. Diamondback Energy has a one year low of $34.75 and a one year high of $93.33. The stock’s 50-day moving average is $81.23 and its 200-day moving average is $65.9. The company has a market cap of $4.511 billion and a P/E ratio of 55.11.
Diamondback Energy (NASDAQ:FANG) last released its earnings data on Wednesday, May 7th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.56 by $0.03. The company had revenue of $98.00 million for the quarter, compared to the consensus estimate of $98.87 million. During the same quarter last year, the company posted $0.12 earnings per share. Diamondback Energy’s revenue was up 239.1% compared to the same quarter last year. Analysts expect that Diamondback Energy will post $2.78 EPS for the current fiscal year.
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.
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