Diamondback Energy, Inc. (NASDAQ:FANG) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 4,738,136 shares, a decrease of 18.9% from the August 15th total of 5,845,271 shares. Based on an average daily trading volume, of 902,704 shares, the days-to-cover ratio is presently 5.2 days. Approximately 5.0% of the company’s stock are sold short.

Several research firms have recently commented on FANG. Piper Jaffray Companies reissued a “buy” rating and issued a $112.00 price objective on shares of Diamondback Energy in a report on Thursday. KeyCorp reissued a “buy” rating and issued a $113.00 price objective on shares of Diamondback Energy in a report on Wednesday, September 6th. Northland Securities set a $125.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Monday, August 21st. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Finally, BMO Capital Markets set a $110.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company. Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $115.87.

Diamondback Energy (NASDAQ FANG) opened at 93.82 on Friday. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $114.00. The company has a market cap of $9.21 billion, a PE ratio of 25.80 and a beta of 1.08. The firm’s 50-day moving average price is $91.33 and its 200 day moving average price is $95.75.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $258.75 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 137.7% compared to the same quarter last year. On average, equities analysts predict that Diamondback Energy will post $4.93 EPS for the current fiscal year.

In other news, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction that occurred 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 owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,805 shares of company stock valued at $166,741. 0.41% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of FANG. BlackRock Inc. lifted its position in shares of Diamondback Energy by 5,554.4% during the 1st quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock valued at $488,205,000 after buying an additional 4,623,946 shares during the last quarter. Warburg Pincus LLC lifted its position in shares of Diamondback Energy by 132.4% during the 2nd quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after buying an additional 3,721,519 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Diamondback Energy by 964.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock valued at $164,114,000 after buying an additional 1,674,336 shares during the last quarter. FMR LLC lifted its position in shares of Diamondback Energy by 17.0% during the 1st quarter. FMR LLC now owns 11,423,256 shares of the oil and natural gas company’s stock valued at $1,184,763,000 after buying an additional 1,661,551 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Diamondback Energy by 20.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock valued at $677,951,000 after buying an additional 1,278,802 shares during the last quarter.

TRADEMARK VIOLATION NOTICE: “Short Interest in Diamondback Energy, Inc. (FANG) Drops By 18.9%” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another site, it was illegally copied and republished in violation of United States and international copyright & trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/15/short-interest-in-diamondback-energy-inc-fang-drops-by-18-9.html.

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.

Receive News & Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.