Diamondback Energy Inc (NASDAQ:FANG) COO Michael L. Hollis sold 29,745 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $125.21, for a total value of $3,724,371.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Diamondback Energy Inc (FANG) traded down $1.83 during trading on Wednesday, hitting $120.98. The stock had a trading volume of 1,259,835 shares, compared to its average volume of 1,430,570. The stock has a market capitalization of $12,160.96, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91. The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 0.26. Diamondback Energy Inc has a 52-week low of $82.77 and a 52-week high of $134.52.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.16. The firm had revenue of $399.19 million during the quarter, compared to analyst estimates of $370.74 million. Diamondback Energy had a return on equity of 9.63% and a net margin of 40.02%. sell-side analysts forecast that Diamondback Energy Inc will post 6.92 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. Northland Securities set a $140.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Williams Capital set a $137.00 price target on Diamondback Energy and gave the stock a “hold” rating in a research note on Wednesday, February 14th. SunTrust Banks set a $165.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Wednesday, February 14th. BidaskClub lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Stephens reiterated a “buy” rating and issued a $159.00 price target on shares of Diamondback Energy in a research note on Friday, February 16th. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $137.60.
Institutional investors have recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in shares of Diamondback Energy during the fourth quarter valued at about $149,000. IFP Advisors Inc grew its position in shares of Diamondback Energy by 42.6% during the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock valued at $164,000 after purchasing an additional 389 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Diamondback Energy by 476.3% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock valued at $178,000 after purchasing an additional 1,167 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Diamondback Energy by 46.7% during the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares in the last quarter. Finally, KCS Wealth Advisory purchased a new position in shares of Diamondback Energy during the fourth quarter valued at about $202,000.
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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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