Williams Capital Group Initiates Coverage on Diamondback Energy Inc to Hold

Williams Capital Group Initiates Coverage on Diamondback Energy Inc(NASDAQ:FANG). The shares have been rated Hold. The rating by Williams Capital Group was issued on Aug 29, 2016.

In a different note, On Aug 22, 2016, KeyBanc said it Maintains its rating on Diamondback Energy Inc. In the research note, the firm Raises the price-target to $107.00 per share. The shares have been rated ‘Overweight’ by the firm. On Aug 10, 2016, Deutsche Bank said it Maintains its rating on Diamondback Energy Inc. In the research note, the firm Raises the price-target to $104.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 8, 2016, Roth Capital said it Upgrades its rating on Diamondback Energy Inc. The shares have been rated ‘Neutral’ by the firm. On Aug 4, 2016, SunTrust Robinson Humphrey said it Maintains its rating on Diamondback Energy Inc. In the research note, the firm Raises the price-target to $110.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 20, 2016, Canaccord Genuity said it Upgrades its rating on Diamondback Energy Inc. The shares have been rated ‘Buy’ by the firm. On Jul 14, 2016, Morgan Stanley said it Maintains its rating on Diamondback Energy Inc. In the research note, the firm Lowers the price-target to $128.00 per share. The shares have been rated ‘Overweight’ by the firm.

Diamondback Energy Inc (FANG) made into the market gainers list on Thursdays trading session with the shares advancing 0.02% or 0.02 points. Due to strong positive momentum, the stock ended at $95.27, which is also near the day’s high of $95.374. The stock began the session at $95.23 and the volume stood at 7,10,707 shares. The 52-week high of the shares is $98.94 and the 52 week low is $55.48. The company has a current market capitalization of $7,434 M and it has 7,80,34,652 shares in outstanding.

Diamondback Energy Inc(FANG) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $112.48M. Analysts had an estimated revenue of $103.08M. Earnings per share were $0.26. Analysts had estimated an EPS of $0.14.

Several Insider Transactions has been reported to the SEC. On Aug 22, 2016, Travis D. Stice (Chief Executive Officer) sold 30,000 shares at $98.00 per share price.Also, On Aug 16, 2016, Teresa L. Dick (CFO, Sr. VP) sold 1,000 shares at $95.71 per share price.On Aug 2, 2016, Russell Pantermuehl (VP Reservoir Engineering) sold 2,000 shares at $85.53 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.

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