Michael L. Hollis Sells 10,000 Shares of Diamondback Energy Inc. (FANG) Stock
Diamondback Energy Inc. (NASDAQ:FANG) COO Michael L. Hollis sold 10,000 shares of the stock in a transaction on Monday, October 10th. The stock was sold at an average price of $104.00, for a total value of $1,040,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Diamondback Energy Inc. (NASDAQ:FANG) traded down 0.29% during trading on Wednesday, hitting $104.54. The stock had a trading volume of 1,361,390 shares. Diamondback Energy Inc. has a 52 week low of $55.48 and a 52 week high of $106.84. The company’s 50-day moving average is $94.53 and its 200 day moving average is $89.42. The firm’s market cap is $8.16 billion.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The company earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. During the same period last year, the business earned $0.41 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. Equities analysts expect that Diamondback Energy Inc. will post $1.00 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of FANG. FMR LLC increased its position in shares of Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock worth $773,449,000 after buying an additional 665,001 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Diamondback Energy by 0.4% in the first quarter. Wellington Management Group LLP now owns 7,512,803 shares of the company’s stock worth $579,839,000 after buying an additional 26,247 shares during the last quarter. Boston Partners increased its position in shares of Diamondback Energy by 4.4% in the second quarter. Boston Partners now owns 7,138,560 shares of the company’s stock worth $651,109,000 after buying an additional 303,405 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Diamondback Energy by 2.1% in the second quarter. Vanguard Group Inc. now owns 5,151,072 shares of the company’s stock worth $469,829,000 after buying an additional 106,359 shares during the last quarter. Finally, Winslow Capital Management LLC bought a new position in shares of Diamondback Energy during the second quarter worth $255,580,000. 99.74% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on FANG. Simmons restated an “overweight” rating and issued a $109.00 price target (up previously from $106.00) on shares of Diamondback Energy in a research report on Saturday, August 13th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Wednesday, June 29th. Barclays PLC raised their price target on Diamondback Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, July 14th. Canaccord Genuity restated a “buy” rating and issued a $116.00 price target (up previously from $103.00) on shares of Diamondback Energy in a research report on Tuesday. Finally, KLR Group restated a “buy” rating and issued a $122.00 price target (up previously from $103.00) on shares of Diamondback Energy in a research report on Monday, July 18th. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $98.28.
Diamondback Energy Company Profile
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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