Brokerage firm Morgan Stanley Maintains its rating on Diamondback Energy Inc(NASDAQ:FANG). In a research note issued to the investors, the brokerage major Lowers the price-target to $135.00 per share. The shares have been rated Overweight. The rating by Morgan Stanley was issued on Jul 14, 2016.
In a different note, Bank of America said it Initiates Coverage on Diamondback Energy Inc, according to a research note issued on Jul 13, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 11, 2016, Piper Jaffray said it Assumes its rating on Diamondback Energy Inc. The shares have been rated ‘Overweight’ by the firm. On Jun 14, 2016, Deutsche Bank said it Maintains its rating on Diamondback Energy Inc. In the research note, the firm Raises the price-target to $100.00 per share. The shares have been rated ‘Buy’ by the firm. On May 9, 2016, Roth Capital said it Downgrades its rating on Diamondback Energy Inc. The shares have been rated ‘Neutral’ by the firm. On May 5, 2016, Goldman Sachs said it Maintains its rating on Diamondback Energy Inc. In the research note, the firm Lowers the price-target to $102.00 per share. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, Wunderlich said it Maintains its rating on Diamondback Energy Inc. In the research note, the firm Raises the price-target to $95.00 per share. The shares have been rated ‘Buy’ by the firm.
Diamondback Energy Inc (FANG) shares turned negative on Mondays trading session with the shares closing down -0.36 points or -0.40% at a volume of 6,96,293. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $90.97. The peak price level was also seen at $90.97 while the days lowest was $89.5. Finally the shares closed at $90.57. The 52-week high of the shares is $96.01 while the 52-week low is $55.48. According to the latest information available, the market cap of the company is $6,494 M.
Diamondback Energy Inc(FANG) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $87.48M. Analysts had an estimated revenue of $91.53M. Earnings per share were $0.02. Analysts had estimated an EPS of $-0.05.
Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Michael L. Hollis (VP and Chief Operating Officer) sold 4,000 shares at $91.03 per share price.Also, On Jul 6, 2016, Russell Pantermuehl (VP Reservoir Engineering) sold 2,000 shares at $91.01 per share price.On Jul 5, 2016, Travis D. Stice (Chief Executive Officer) sold 10,000 shares at $91.11 per share price, according to the Form-4 filing with the securities and exchange commission.
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 24528 gross (15948 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 Company’s activities are primarily focused on the Clearfork Spraberry Wolfcamp Cline Strawn and Atoka formations which it refers to collectively as the Wolfberry play.