The stock of Diamondback Energy Inc (NASDAQ:FANG) reached all time high today, Dec, 1 and still has $121.80 target or 9.00% above today’s $111.74 share price. This indicates more upside for the $9.86B company. This technical setup was reported by Barchart.com. If the $121.80 PT is reached, the company will be worth $887.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 791,951 shares traded hands. Diamondback Energy Inc (NASDAQ:FANG) has risen 24.14% since April 28, 2016 and is uptrending. It has outperformed by 18.21% 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 $45.02 million for 54.75 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. Diamondback Energy has been the topic of 60 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Topeka Capital Markets maintained Diamondback Energy Inc (NASDAQ:FANG) on Tuesday, October 6 with “Buy” rating. Northland Capital maintained it with “Outperform” rating and $94 target price in Thursday, November 5 report. The stock of Diamondback Energy Inc (NASDAQ:FANG) earned “Sector Outperform” rating by Howard Weil on Wednesday, January 13. Cowen & Co downgraded the shares of FANG in a report on Tuesday, September 8 to “Market Perform” rating. As per Tuesday, October 11, the company rating was maintained by Wunderlich. Barclays Capital maintained Diamondback Energy Inc (NASDAQ:FANG) on Thursday, July 14 with “Equalweight” rating. The rating was initiated by Bank of America on Wednesday, July 13 with “Buy”. The firm has “Buy” rating by Deutsche Bank given on Wednesday, August 10. The stock has “Neutral” rating given by Roth Capital on Monday, May 9. The stock of Diamondback Energy Inc (NASDAQ:FANG) has “Buy” rating given on Thursday, January 14 by Wunderlich.
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 increased, 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.
Nationwide Fund has 241,911 shares for 0.1% of their US portfolio. Fil Limited reported 472,690 shares or 0.14% of all its holdings. Blackrock Group Limited accumulated 0.01% or 126,753 shares. Turner L P accumulated 0.05% or 1,700 shares. Ameriprise Financial, a Minnesota-based fund reported 152,559 shares. Moreover, Comerica Bank & Trust has 0.01% invested in Diamondback Energy Inc (NASDAQ:FANG) for 9,563 shares. Discovery Management Lc Ct has 636,495 shares for 1.33% of their US portfolio. Guggenheim Cap Ltd last reported 22,392 shares in the company. Miles last reported 0.3% of its portfolio in the stock. Hanseatic Mngmt Service last reported 8,495 shares in the company. Springbok Management Limited Liability owns 41,575 shares or 0.53% of their US portfolio. Raymond James And Associates has 0.04% invested in the company for 154,811 shares. Carroll Fincl Associates accumulated 0% or 3 shares. Deutsche National Bank Ag holds 116,403 shares or 0.01% of its portfolio. Alyeska Investment Gru Ltd Partnership last reported 0.33% of its portfolio in the stock.
Insider Transactions: Since June 30, 2016, the stock had 0 insider purchases, and 12 insider sales for $6.42 million net activity. 2,000 shares were sold by Moses Elizabeth, worth $177,315. $170,679 worth of Diamondback Energy Inc (NASDAQ:FANG) was sold by Pantermuehl Russell on Monday, August 1. 1,000 shares were sold by Dick Teresa L., worth $95,708 on Monday, August 15. Shares for $904,887 were sold by Stice Travis D.. The insider Hollis Michael L. sold $363,912.
More news for Diamondback Energy Inc (NASDAQ:FANG) were recently published by: Streetinsider.com, which released: “Moody’s Upgrades Diamondback Energy (FANG) to ‘Ba3’; Outlook Revised to Positive” on November 30, 2016. Zacks.com‘s article titled: “Why the Earnings Streak Will Continue for Diamondback Energy (FANG)” and published on December 01, 2016 is yet another important article.
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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