Diamondback Energy, Inc. (FANG) VP Sells $57,518.50 in Stock
Diamondback Energy, Inc. (NASDAQ:FANG) VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the sale, the vice president now directly owns 4,950 shares in the company, valued at $438,025.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Diamondback Energy, Inc. (FANG) traded up 0.799% on Friday, hitting $91.515. The stock had a trading volume of 733,176 shares. The firm has a market cap of $8.98 billion, a P/E ratio of 25.162 and a beta of 1.06. Diamondback Energy, Inc. has a 1-year low of $82.77 and a 1-year high of $114.00. The firm’s 50-day moving average price is $91.59 and its 200-day moving average price is $96.66.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 137.7% compared to the same quarter last year. On average, equities research analysts predict that Diamondback Energy, Inc. will post $4.93 earnings per share for the current year.
Several brokerages have weighed in on FANG. Scotiabank reaffirmed a “buy” rating and issued a $121.00 target price on shares of Diamondback Energy in a research report on Thursday, May 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $141.00 target price on shares of Diamondback Energy in a research report on Thursday, May 25th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Diamondback Energy in a research report on Friday, May 26th. Roth Capital increased their target price on Diamondback Energy from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, BidaskClub lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $117.32.
A number of institutional investors have recently modified their holdings of FANG. Karp Capital Management Corp acquired a new position in shares of Diamondback Energy during the first quarter valued at about $2,207,000. Investment House LLC increased its stake in Diamondback Energy by 228.2% in the first quarter. Investment House LLC now owns 9,845 shares of the oil and natural gas company’s stock worth $1,021,000 after buying an additional 6,845 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Diamondback Energy by 5.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 268,944 shares of the oil and natural gas company’s stock worth $27,894,000 after buying an additional 14,331 shares during the last quarter. Stevens Capital Management LP purchased a new stake in Diamondback Energy during the first quarter worth $201,000. Finally, Nicholas Investment Partners LP increased its stake in Diamondback Energy by 39.4% in the first quarter. Nicholas Investment Partners LP now owns 34,856 shares of the oil and natural gas company’s stock worth $3,615,000 after buying an additional 9,849 shares during the last quarter.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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