Michael L. Hollis Sells 1,000 Shares of Diamondback Energy Inc. (FANG) Stock
Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Diamondback Energy Inc. (NASDAQ:FANG) opened at 96.54 on Friday. The company’s market capitalization is $7.53 billion. The company’s 50-day moving average is $94.20 and its 200 day moving average is $88.25. Diamondback Energy Inc. has a 52 week low of $55.48 and a 52 week high of $99.69.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.10. The company earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. On average, analysts forecast that Diamondback Energy Inc. will post $1.02 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Seven Eight Capital LLC bought a new position in shares of Diamondback Energy during the second quarter worth about $119,000. Advisor Group Inc. acquired a new position in Diamondback Energy during the second quarter valued at $120,000. PNC Financial Services Group Inc. increased its position in Diamondback Energy by 56.6% in the second quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the company’s stock valued at $125,000 after buying an additional 491 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Diamondback Energy by 7.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 2,082 shares of the company’s stock valued at $161,000 after buying an additional 141 shares during the last quarter. Finally, BB&T Corp acquired a new position in Diamondback Energy during the second quarter valued at $216,000. Institutional investors own 99.74% of the company’s stock.
FANG has been the subject of several research analyst reports. Wunderlich lifted their target price on shares of Diamondback Energy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. Canaccord Genuity raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, July 20th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Diamondback Energy in a report on Monday, July 18th. KLR Group reaffirmed a “buy” rating and set a $122.00 target price (up previously from $103.00) on shares of Diamondback Energy in a report on Monday, July 18th. Finally, Zacks Investment Research raised shares of 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. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $94.86.
About Diamondback Energy
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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