Shares of Diamondback Energy Inc. (NASDAQ:FANG) were down 4.3% during trading on Monday . The stock traded as low as $84.20 and last traded at $84.41, with a volume of 541,662 shares trading hands. The stock had previously closed at $88.23.

A number of analysts have recently issued reports on the stock. Roth Capital reaffirmed a “hold” rating on shares of Diamondback Energy in a report on Tuesday, July 12th. Barclays PLC raised their price target on shares of Diamondback Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 14th. Topeka Capital Markets raised their price target on shares of Diamondback Energy from $85.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, May 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Diamondback Energy in a report on Monday, July 18th. Finally, Wunderlich raised their price target on shares of Diamondback Energy from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 14th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $91.17.

The firm has a 50 day moving average of $89.90 and a 200 day moving average of $79.99. The firm’s market cap is $6.12 billion.

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 forecast that Diamondback Energy Inc. will post $0.80 EPS for the current fiscal year.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $86.32, for a total transaction of $172,640.00. Following the transaction, the vice president now owns 73,914 shares of the company’s stock, valued at approximately $6,380,256.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Teresa L. Dick sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $89.50, for a total value of $268,500.00. Following the transaction, the chief financial officer now directly owns 31,750 shares in the company, valued at approximately $2,841,625. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Diamondback Energy by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 4,558,891 shares of the company’s stock worth $304,990,000 after buying an additional 107,481 shares in the last quarter. Victory Capital Management Inc. increased its position 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 in the last quarter. Eaton Vance Management increased its position 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 in the last quarter. Turner Investments L.P. increased its position 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 in the last quarter. Finally, OppenheimerFunds Inc. increased its position in Diamondback Energy by 4.5% in the fourth quarter. OppenheimerFunds Inc. now owns 514,617 shares of the company’s stock worth $34,428,000 after buying an additional 22,207 shares in 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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