Shares of Diamondback Energy Inc. (NASDAQ:FANG) fell 2.3% during mid-day trading on Friday . The company 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.

A number of brokerages have issued reports on FANG. Barclays PLC raised their target price on Diamondback Energy from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wunderlich raised their target price on Diamondback Energy from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America Corp. began coverage on Diamondback Energy in a research note on Wednesday. They issued a “neutral” rating and a $106.00 target price for the company. Roth Capital reaffirmed a “hold” rating on shares of Diamondback Energy in a research note on Tuesday, July 12th. Finally, Piper Jaffray Cos. began coverage on Diamondback Energy in a research note on Monday, July 11th. They issued an “overweight” rating and a $101.00 target price for the company. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $89.45.

The stock’s market capitalization is $6.52 billion. The firm’s 50 day moving average price is $90.25 and its 200 day moving average price is $79.26.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly 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. During the same quarter in the prior year, the company earned $0.38 earnings per share. The firm had revenue of $87.48 million for the quarter, compared to analyst estimates of $91.53 million. The business’s revenue was down 13.7% compared to the same quarter last year. On average, equities analysts expect that Diamondback Energy Inc. will post $0.75 EPS for the current year.

In other news, CEO Travis D. Stice sold 10,000 shares of the stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $90.49, for a total value of $904,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael L. Hollis sold 4,000 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $90.98, for a total value of $363,920.00. The disclosure for this sale can be found here.

Several large investors recently bought and sold shares of the stock. US Bancorp DE raised its stake in Diamondback Energy by 136.2% in the fourth quarter. US Bancorp DE now owns 18,952 shares of the company’s stock worth $1,267,000 after buying an additional 10,929 shares during the period. Eaton Vance Management raised its stake in Diamondback Energy by 24.6% in the fourth quarter. Eaton Vance Management now owns 194,136 shares of the company’s stock worth $12,988,000 after buying an additional 38,354 shares during the period. Victory Capital Management Inc. raised its stake in Diamondback Energy by 4.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,168,888 shares of the company’s stock worth $78,199,000 after buying an additional 47,771 shares during the period. Turner Investments L.P. raised its stake in Diamondback Energy by 296.8% in the fourth quarter. Turner Investments L.P. now owns 47,610 shares of the company’s stock worth $3,185,000 after buying an additional 35,610 shares during the period. Finally, GAM Holding AG raised its stake in Diamondback Energy by 18.8% in the fourth quarter. GAM Holding AG now owns 51,229 shares of the company’s stock worth $3,427,000 after buying an additional 8,100 shares during the period.

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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