Diamondback Energy Inc. (NASDAQ:FANG)’s share price gapped up prior to trading 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 traded.

A number of equities analysts recently issued reports on the company. KeyCorp lifted their target price on Diamondback Energy from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. Williams Capital initiated coverage on Diamondback Energy in a report on Monday, August 29th. They set a “hold” rating and a $105.00 price target on the stock. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Diamondback Energy in a report on Wednesday, June 8th. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Finally, Simmons reiterated an “overweight” rating and set a $109.00 price target (up previously from $106.00) on shares of Diamondback Energy in a report on Saturday, August 13th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $96.10.

The firm’s market cap is $7.52 billion. The company has a 50 day moving average price of $92.24 and a 200-day moving average price of $85.46.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The firm earned $112.48 million during the quarter, compared to analyst estimates of $112.47 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy Inc. will post $1.03 earnings per share for the current year.

In other Diamondback Energy news, COO Michael L. Hollis sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $90.98, for a total transaction of $363,920.00. 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 firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $90.49, for a total transaction 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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