Diamondback Energy (FANG) : Traders are bullish on Diamondback Energy (FANG) as it has outperformed the S&P 500 by a wide margin of 0.71% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.39%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.57% in the last 1 week, and is up 0.17% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.3% and the 50-Day Moving Average is 4.4%.The 200 Day SMA reached 17.43%
Diamondback Energy (NASDAQ:FANG): After opening at $96, the stock dipped to an intraday low of $95.74 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $98.78 and the buying power remained strong till the end. The stock closed at $96.54 for the day, a gain of 1.06% for the day session. The total traded volume was 1,292,504. The stocks close on the previous trading day was $96.54.
Diamondback Energy (FANG) has been rated by 17 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $135 and the lowest price target forecast is $88. The average forecast of all the analysts is $108.65 and the expected standard deviation is $9.61.
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.