Diamondback Energy, Inc. (FANG) Insider Michael L. Hollis Sells 2,000 Shares
Diamondback Energy, Inc. (NASDAQ:FANG) insider Michael L. Hollis sold 2,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Diamondback Energy, Inc. (NASDAQ:FANG) traded up 0.90% during mid-day trading on Tuesday, reaching $107.16. The company had a trading volume of 1,040,997 shares. The firm has a market capitalization of $10.52 billion, a P/E ratio of 29.46 and a beta of 1.08. Diamondback Energy, Inc. has a one year low of $82.77 and a one year high of $114.00. The firm’s 50-day moving average is $98.76 and its 200-day moving average is $94.89.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $258.75 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The company’s revenue was up 137.7% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post $5.00 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of FANG. Warburg Pincus LLC lifted its stake in Diamondback Energy by 132.4% in the second 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 period. Artisan Partners Limited Partnership lifted its stake in Diamondback Energy by 964.6% in the second 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 period. JPMorgan Chase & Co. lifted its stake in Diamondback Energy by 20.1% in the second 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 period. Capital World Investors lifted its stake in Diamondback Energy by 98.1% in the second quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock valued at $223,490,000 after buying an additional 1,246,072 shares during the period. Finally, Voya Investment Management LLC lifted its stake in Diamondback Energy by 159.6% in the second quarter. Voya Investment Management LLC now owns 1,320,826 shares of the oil and natural gas company’s stock valued at $117,302,000 after buying an additional 811,950 shares during the period.
FANG has been the topic of several research reports. Zacks Investment Research downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Barclays PLC upped their price target on shares of Diamondback Energy from $105.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. Jefferies Group LLC initiated coverage on shares of Diamondback Energy in a research report on Monday, October 9th. They set a “buy” rating and a $124.00 price target on the stock. Finally, Northland Securities reiterated a “buy” rating and set a $125.00 price target on shares of Diamondback Energy in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $122.13.
About Diamondback Energy
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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