Diamondback Energy Inc. (NASDAQ:FANG) shares fell 2.3% during mid-day trading on Friday . The stock traded as low as $90.07 and last traded at $90.10, with a volume of 499,920 shares. The stock had previously closed at $92.23.

Several research firms have recently issued reports on FANG. Goldman Sachs Group Inc. lowered their price objective on Diamondback Energy from $102.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, May 5th. Stephens downgraded Diamondback Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, March 28th. Deutsche Bank AG boosted their target price on Diamondback Energy from $100.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Wunderlich reduced their target price on Diamondback Energy from $100.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, May 5th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Diamondback Energy in a report on Thursday, May 5th. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $89.45.

The firm has a 50-day moving average of $90.28 and a 200 day moving average of $79.08. The stock’s market cap is $6.52 billion.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, May 3rd. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The firm had revenue of $87.48 million for the quarter, compared to the consensus estimate of $91.53 million. During the same period in the previous year, the firm earned $0.38 EPS. Diamondback Energy’s revenue for the quarter was down 13.7% on a year-over-year basis. On average, equities research analysts predict that Diamondback Energy Inc. will post $0.73 earnings per share for the current fiscal year.

In related news, VP Paul Molnar sold 4,665 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $87.51, for a total transaction of $408,234.15. Following the sale, the vice president now owns 39,088 shares of the company’s stock, valued at $3,420,590.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $86.32, for a total value of $172,640.00. Following the sale, the vice president now directly owns 73,914 shares in the company, valued at approximately $6,380,256.48. The disclosure for this sale can be found here.

A number of large investors have recently made changes to their positions in FANG. Hodges Capital Management Inc. boosted its stake in shares of Diamondback Energy by 0.4% in the fourth quarter. Hodges Capital Management Inc. now owns 264,419 shares of the company’s stock valued at $17,690,000 after buying an additional 1,097 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Diamondback Energy by 3.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 55,939 shares of the company’s stock valued at $3,742,000 after buying an additional 2,059 shares during the last quarter. Swiss National Bank boosted its stake in shares of Diamondback Energy by 4.1% in the fourth quarter. Swiss National Bank now owns 87,072 shares of the company’s stock valued at $5,825,000 after buying an additional 3,400 shares during the last quarter. Redwood Investments LLC boosted its stake in shares of Diamondback Energy by 22.6% in the fourth quarter. Redwood Investments LLC now owns 24,983 shares of the company’s stock valued at $1,671,000 after buying an additional 4,609 shares during the last quarter. Finally, Russell Frank Co boosted its stake in shares of Diamondback Energy by 7.7% in the fourth quarter. Russell Frank Co now owns 78,245 shares of the company’s stock valued at $5,167,000 after buying an additional 5,583 shares during the last quarter.

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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