Diamondback Energy Inc. (NASDAQ:FANG) gapped up before the market opened on Friday . The stock had previously closed at $94.89, but opened at $95.27. Diamondback Energy shares last traded at $96.32, with a volume of 242,257 shares trading hands.

FANG has been the topic of several recent analyst reports. Wunderlich increased their target price on shares of Diamondback Energy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 14th. BMO Capital Markets reissued a “buy” rating on shares of Diamondback Energy in a research note on Thursday, May 5th. Goldman Sachs Group Inc. reduced their target price on shares of Diamondback Energy from $102.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, May 5th. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Wednesday, June 29th. Finally, Deutsche Bank AG increased their target price on shares of Diamondback Energy from $100.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $96.10.

The firm’s 50-day moving average is $92.35 and its 200-day moving average is $85.53. The stock’s market capitalization is $7.52 billion.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The company had revenue of $112.48 million for the quarter, compared to analyst estimates of $112.47 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy Inc. will post $1.03 earnings per share for the current year.

In related news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $2,940,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Travis D. Stice sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $90.49, for a total value of $904,900.00. The disclosure for this sale can be found here.

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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