Insider Selling: Diamondback Energy Inc. (FANG) VP Sells 2,000 Shares of Stock
Diamondback Energy Inc. (NASDAQ:FANG) VP Elizabeth Moses sold 2,000 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $88.66, for a total transaction of $177,320.00. Following the completion of the transaction, the vice president now owns 11,709 shares in the company, valued at $1,038,119.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Diamondback Energy Inc. (NASDAQ:FANG) opened at 89.39 on Thursday. The stock’s 50 day moving average is $94.21 and its 200-day moving average is $87.52. The firm’s market cap is $6.98 billion. Diamondback Energy Inc. has a 52 week low of $55.48 and a 52 week high of $99.69.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The business earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities analysts predict that Diamondback Energy Inc. will post $1.02 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. C M Bidwell & Associates Ltd. bought a new position in shares of Diamondback Energy during the first quarter worth approximately $3,479,000. TimesSquare Capital Management LLC bought a new position in shares of Diamondback Energy during the first quarter worth approximately $29,799,000. Columbia Partners L L C Investment Management increased its position in shares of Diamondback Energy by 47.2% in the first quarter. Columbia Partners L L C Investment Management now owns 101,149 shares of the company’s stock worth $7,806,000 after buying an additional 32,429 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Diamondback Energy by 6.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,773,392 shares of the company’s stock worth $136,870,000 after buying an additional 101,344 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Diamondback Energy by 3.3% in the first quarter. BlackRock Fund Advisors now owns 798,166 shares of the company’s stock worth $61,602,000 after buying an additional 25,366 shares in the last quarter. 99.74% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. SunTrust Banks Inc. upped their price target on shares of Diamondback Energy from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. KLR Group reaffirmed a “buy” rating and issued a $122.00 price objective (up from $103.00) on shares of Diamondback Energy in a research note on Monday, July 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Diamondback Energy in a research note on Monday, July 18th. BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Diamondback Energy in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Diamondback Energy in a research note on Friday, August 5th. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Diamondback Energy has an average rating of “Buy” and an average price target of $97.03.
Diamondback Energy Company Profile
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. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
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