Diamondback Energy Inc (FANG) Insider Sells $1,250,000.00 in Stock
Diamondback Energy Inc (NASDAQ:FANG) insider Michael L. Hollis sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Diamondback Energy Inc (NASDAQ:FANG) traded down $2.78 on Thursday, reaching $123.19. The company’s stock had a trading volume of 1,348,300 shares, compared to its average volume of 1,336,115. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. Diamondback Energy Inc has a one year low of $82.77 and a one year high of $127.45. The firm has a market capitalization of $12,200.00, a price-to-earnings ratio of 29.83, a P/E/G ratio of 0.89 and a beta of 1.09.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same period last year, the company earned ($0.03) earnings per share. Diamondback Energy’s quarterly revenue was up 112.0% compared to the same quarter last year. analysts anticipate that Diamondback Energy Inc will post 5.06 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on FANG. Piper Jaffray Companies restated a “buy” rating and issued a $118.00 price objective on shares of Diamondback Energy in a research note on Friday, November 24th. SunTrust Banks restated a “buy” rating and issued a $130.00 price objective on shares of Diamondback Energy in a research note on Friday, November 10th. Stifel Nicolaus set a $129.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. BidaskClub upgraded Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Goldman Sachs Group cut Diamondback Energy from a “conviction-buy” rating to a “buy” rating and raised their price objective for the stock from $106.53 to $118.00 in a research note on Friday, November 17th. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $124.58.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Johnson Financial Group Inc. acquired a new stake in shares of Diamondback Energy in the second quarter worth approximately $102,000. Cubist Systematic Strategies LLC boosted its stake in shares of Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after acquiring an additional 700 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Diamondback Energy in the third quarter worth approximately $206,000. Commerce Bank acquired a new stake in shares of Diamondback Energy in the third quarter worth approximately $208,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Diamondback Energy in the second quarter worth approximately $215,000.
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About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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