Could Diamondback Energy Inc Rise More? The Stock Had Bearish Options Activity

 Could Diamondback Energy Inc Rise More? The Stock Had Bearish Options Activity

In today’s session Diamondback Energy Inc (FANG) recorded an unusually high (330) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the March, 2017 put, expecting serious FANG decrease. With 330 contracts traded and 5314 open interest for the Mar, 17 contract, it seems this is a quite bearish bet. The option with symbol: FANG170317P00090000 closed last at: $4.3 or 4.9% up. About 323,619 shares traded hands. Diamondback Energy Inc (NASDAQ:FANG) has risen 11.84% since April 26, 2016 and is uptrending. It has outperformed by 6.58% the S&P500.

Analysts await Diamondback Energy Inc (NASDAQ:FANG) to report earnings on February, 21. They expect $0.51 earnings per share, down 12.07% or $0.07 from last year’s $0.58 per share. FANG’s profit will be $38.72M for 46.68 P/E if the $0.51 EPS becomes a reality. After $0.54 actual earnings per share reported by Diamondback Energy Inc for the previous quarter, Wall Street now forecasts -5.56% negative EPS growth.

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. $139 is the highest target while $65 is the lowest. The $96.04 average target is 0.86% above today’s ($95.22) stock price. Diamondback Energy has been the topic of 60 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Wednesday, January 13 the stock rating was maintained by Howard Weil with “Sector Outperform”. The rating was initiated by BMO Capital Markets with “Outperform” on Friday, January 29. Topeka Capital Markets maintained the stock with “Buy” rating in Wednesday, January 13 report. The stock has “Buy” rating given by Topeka Capital Markets on Wednesday, November 4. The rating was downgraded by Cowen & Co to “Market Perform” on Tuesday, September 8. On Thursday, February 18 the stock rating was downgraded by Canaccord Genuity to “Buy”. The company was initiated on Wednesday, July 13 by Bank of America. Northland Capital maintained Diamondback Energy Inc (NASDAQ:FANG) rating on Friday, August 7. Northland Capital has “Outperform” rating and $83 price target. Mizuho initiated Diamondback Energy Inc (NASDAQ:FANG) rating on Thursday, October 6. Mizuho has “Buy” rating and $105 price target. The firm earned “Buy” rating on Wednesday, August 10 by Deutsche Bank.

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 increased to 1.28 in 2016 Q2. Its up 0.25, from 1.03 in 2016Q1. The ratio is positive, 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.
Parkside National Bank And Tru last reported 0% of its portfolio in the stock. Amer Century Cos Inc reported 11,421 shares or 0% of all its holdings. Millennium Mngmt Ltd reported 168,787 shares or 0.04% of all its holdings. Financial Bank Of Montreal Can holds 0.01% or 62,409 shares in its portfolio. Biondo Investment Llc accumulated 2.32% or 71,330 shares. Winslow Evans & Crocker has invested 0% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG). Oberweis Asset Mgmt holds 2.11% or 77,680 shares in its portfolio. Eagle Asset Inc last reported 0.68% of its portfolio in the stock. Federated Invsts Inc Pa holds 0.01% or 21,114 shares in its portfolio. Moreover, Rhumbline Advisers has 0.02% invested in Diamondback Energy Inc (NASDAQ:FANG) for 63,766 shares. Parkwood Ltd Llc last reported 0.2% of its portfolio in the stock. Palisade Cap Mngmt Lc Nj holds 9,840 shares or 0.03% of its portfolio. Cap Investors has invested 0.03% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG). Ci Investments holds 0.01% or 9,700 shares in its portfolio. Wexford Cap Limited Partnership has invested 1.03% of its portfolio in Diamondback Energy Inc (NASDAQ:FANG).

Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 12 selling transactions for $6.42 million net activity. Stice Travis D. sold $904,887 worth of stock. Moses Elizabeth sold 2,000 shares worth $177,315. Dick Teresa L. sold $95,708 worth of stock or 1,000 shares. The insider Hollis Michael L. sold 10,000 shares worth $1.04M. Pantermuehl Russell had sold 2,000 shares worth $170,679.

Diamondback Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $7.23 billion. 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. It currently has negative earnings. The Company’s total net acreage position in the Permian Basin is approximately 84,680 net acres.

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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