Diamondback Energy (NASDAQ:FANG) shares are expected to touch $95.39 in the short term. This short term price target has been shared by 18 analysts. However, the standard deviation of short term price estimate has been valued at 9.09. The target price could hit $114 on the higher end and $82 on the lower end.
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Roth Capital downgrades its outlook on Diamondback Energy (NASDAQ:FANG). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Buy. The rating by the firm was issued on May 9, 2016. For the current week, the company shares have a recommendation consensus of Buy.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Pantermuehl Russell, officer (VP Reservoir Engineering) of Diamondback Energy, Inc., had unloaded 2,000 shares at an average price of $91.16 in a transaction dated on June 1, 2016. The total value of the transaction was worth $182,320.
Diamondback Energy (NASDAQ:FANG) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.58 points or 0.65% at $88.76 with 910,477 shares getting traded. Post opening the session at $88.7, the shares hit an intraday low of $88.2 and an intraday high of $90.4364 and the price was in this range throughout the day. The company has a market cap of $6,364 million and the number of outstanding shares have been calculated to be 71,702,583 shares. The 52-week high of Diamondback Energy (NASDAQ:FANG) is $96.01 and the 52-week low is $55.48.
Diamondback Energy, Inc. is an independent oil and natural gas company. The Company 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, through its subsidiary Viper, owns mineral interests underlying approximately 24,528 gross (15,948 net) acres in Midland County Texas in the Permian Basin. Approximately 43% of these net acres are operated by the Company. As of December 31, 2014, it had drilled or participated in the drilling of 405 gross (343 net) wells on its leasehold acreage in this area, primarily targeting the Wolfberry play. The Permian Basin area covers a portion of western Texas and eastern New Mexico. The Companys activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, which it refers to collectively as the Wolfberry play.