Diamondback Energy (FANG): The stock had negative money flow to the tune of ($1.83 million) on Thursday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $5.28 million, whereas, the outflow of money on downticks was $7.12 million and the ratio between the two was 0.74. The block trade had a negative net money flow of ($2.29 million). On the other hand, downticks amounted to $2.29 million of the traded value, which shows distribution in the stock by traders. Diamondback Energy (FANG) closed with marginal gains of 58 cents to end the day at $91.08, an increase of 0.64% over the previous days close. The stock recorded 0.6% for the week.
Diamondback Energy (FANG) : The consensus price target for Diamondback Energy (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. The stock has recorded a 20-day Moving Average of 1.1% and the 50-Day Moving Average is 0.15%.
Diamondback Energy (NASDAQ:FANG): The stock opened at $91.50 on Thursday but the bulls could not build on the opening and the stock topped out at $91.97 for the day. The stock traded down to $88.41 during the day, due to lack of any buying support eventually closed down at $88.59 with a loss of -2.11% for the day. The stock had closed at $90.50 on the previous day. The total traded volume was 1,087,357 shares.
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.