Diamondback Energy (NASDAQ:FANG) : Zacks Investment Research ranks Diamondback Energy (NASDAQ:FANG) as 3, which is a Hold recommendation. 14 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 4 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 20 research analysts is 1.5, which indicates as a Strong Buy.
Diamondback Energy (NASDAQ:FANG) : The consensus price target for Diamondback Energy (NASDAQ:FANG) is $97.78 for the short term with a standard deviation of $11.52. The most optimist securities analyst among the 18 who monitor the stock believes that the stock can reach $125, however, the pessimist price target for the company is $82.
For the current week, the company shares have a recommendation consensus of Buy. Also, In a research note released to the investors, Deutsche Bank maintains its rating on Diamondback Energy (NASDAQ:FANG).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Deutsche Bank raises the new price target from $100 per share to $104 per share. The rating by the firm was issued on June 14, 2016.
Diamondback Energy (NASDAQ:FANG): stock turned positive on Tuesday. Though the stock opened at $85.01, the bulls momentum made the stock top out at $88.95 level for the day. The stock recorded a low of $84.35 and closed the trading day at $88.61, in the green by 5.78%. The total traded volume for the day was 1,393,958. The stock had closed at $83.77 in the previous days trading.
In an insider trading activity, 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, 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.