Today’s Stock Alert: Could Diamondback Energy Inc Decline After Today’s Big Increase?

Today's Stock Alert: Could Diamondback Energy Inc Decline After Today's Big Increase?

The stock of Diamondback Energy Inc (NASDAQ:FANG) is a huge mover today! About 620,498 shares traded hands. Diamondback Energy Inc (NASDAQ:FANG) has risen 15.87% since April 13, 2016 and is uptrending. It has outperformed by 11.95% the S&P500.
The move comes after 8 months positive chart setup for the $7.41 billion company. It was reported on Nov, 15 by Barchart.com. We have $129.65 PT which if reached, will make NASDAQ:FANG worth $2.59 billion more.

Diamondback Energy Inc (NASDAQ:FANG) Ratings Coverage

Out of 30 analysts covering Diamondback Energy (NASDAQ:FANG), 25 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 83% are positive. Diamondback Energy has been the topic of 60 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Williams Capital Group given on Monday, August 29. Howard Weil maintained it with “Sector Outperform” rating and $73.0 target price in Wednesday, January 13 report. Evercore initiated the shares of FANG in a report on Friday, October 2 with “Buy” rating. The rating was initiated by BMO Capital Markets on Friday, January 29 with “Outperform”. The firm has “Buy” rating by Canaccord Genuity given on Tuesday, October 20. The firm has “Outperform” rating by Cowen & Co given on Thursday, January 14. The stock has “Outperform” rating given by Northland Capital on Friday, August 7. Morgan Stanley maintained it with “Overweight” rating and $135 target price in Thursday, July 14 report. KLR Group maintained the shares of FANG in a report on Tuesday, October 11 with “Buy” rating. On Thursday, August 4 the stock rating was maintained by SunTrust with “Buy”.

According to Zacks Investment Research, “Diamondback Energy, Inc. is an oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations. Diamondback Energy, Inc. is headquartered in Midland, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in 2016 Q2. Its down 0.41, from 1.44 in 2016Q1. The ratio worsened, as 35 funds sold all Diamondback Energy Inc shares owned while 104 reduced positions. 49 funds bought stakes while 94 increased positions. They now own 75.97 million shares or 2.70% less from 78.08 million shares in 2016Q1.
California Employees Retirement, a California-based fund reported 158,500 shares. Cubist Systematic Strategies Limited Company, a Connecticut-based fund reported 3,309 shares. Thompson Davis Inc has invested 0.02% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG). Us Bank De holds 24,085 shares or 0.01% of its portfolio. State Street Corporation holds 0.01% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG) for 1.32 million shares. Clearbridge Investments Limited Liability Corp owns 562 shares or 0% of their US portfolio. First Personal Fincl Ser last reported 0.01% of its portfolio in the stock. Ubs Asset Mngmt Americas has 109,256 shares for 0.01% of their US portfolio. Comerica Bankshares holds 0.01% or 9,563 shares in its portfolio. Ami Asset Management Corp has invested 1.16% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG). Fund Sa accumulated 0% or 4,433 shares. Bnp Paribas Arbitrage accumulated 235 shares or 0% of the stock. Hanseatic owns 8,495 shares or 0.29% of their US portfolio. Dai Ichi Life Insur Co Limited has 19,149 shares for 0.05% of their US portfolio. Panagora Asset Mngmt Inc has invested 0% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG).

Insider Transactions: Since May 25, 2016, the stock had 0 insider purchases, and 16 sales for $7.69 million net activity. Moses Elizabeth sold $177,315 worth of stock. Molnar Paul also sold $433,577 worth of Diamondback Energy Inc (NASDAQ:FANG) shares. On Monday, August 15 the insider Dick Teresa L. sold $95,708. Stice Travis D. sold $904,887 worth of stock or 10,000 shares. On Monday, October 10 Hollis Michael L. sold $1.04 million worth of the stock or 10,000 shares. $181,914 worth of Diamondback Energy Inc (NASDAQ:FANG) was sold by Pantermuehl Russell on Friday, July 1.

Another recent and important Diamondback Energy Inc (NASDAQ:FANG) news was published by Nasdaq.com which published an article titled: “Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Announces …” on October 27, 2016.

FANG Company Profile

Diamondback Energy, Inc., incorporated on December 30, 2011, is an independent oil and natural gas company. The Firm is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. The Company’s total net acreage position in the Permian Basin is approximately 84,680 net acres. The Company, through its subsidiary Viper Energy Partners LP (Viper), owns mineral interests underlying approximately 46,560 gross (17,060 net) acres primarily in Midland County, Texas in the Permian Basin. Approximately 60% of these net acres are operated by the Company. It has drilled or participated in the drilling 490 gross wells on its leasehold acreage in Permian Basin area, primarily targeting the Wolfberry play. The Permian Basin area covers a portion of western Texas and eastern New Mexico.

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