Diamondback Energy Inc. (NASDAQ:FANG)’s share price gapped down prior to trading on Monday . The stock had previously closed at $94.89, but opened at $95.27. Diamondback Energy shares last traded at $96.38, with a volume of 569,700 shares traded.

A number of brokerages have issued reports on FANG. Simmons reaffirmed an “overweight” rating and issued a $109.00 target price (up previously from $106.00) on shares of Diamondback Energy in a report on Saturday, August 13th. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Wednesday, June 29th. Barclays PLC increased their price target on Diamondback Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 14th. KLR Group reissued a “buy” rating and issued a $122.00 price target (up previously from $103.00) on shares of Diamondback Energy in a research note on Monday, July 18th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $95.00 price target on shares of Diamondback Energy in a research note on Wednesday, August 3rd. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $96.10.

The stock’s market capitalization is $7.52 billion. The stock 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 posted its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The firm had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $112.47 million. During the same quarter last year, the company posted $0.41 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. On average, analysts predict that Diamondback Energy Inc. will post $1.03 EPS for the current fiscal year.

In related news, CEO Travis D. Stice sold 10,000 shares of the company’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 value of $904,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 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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