December 1, 2016 - By Clifton Ray · 0 Comments
Diamondback Energy Inc (NASDAQ:FANG) institutional sentiment increased to 1.28 in Q2 2016. Its up 0.25, from 1.03 in 2016Q1. The ratio is better, as 143 investment professionals started new or increased holdings, while 139 sold and reduced their stakes in Diamondback Energy Inc. The investment professionals in our partner’s database now have: 75.97 million shares, down from 78.08 million shares in 2016Q1. Also, the number of investment professionals holding Diamondback Energy Inc in their top 10 holdings decreased from 8 to 6 for a decrease of 2. Sold All: 35 Reduced: 104 Increased: 94 New Position: 49.
Diamondback Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $9.80 billion. The Firm is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. It currently has negative earnings. The Company’s total net acreage position in the Permian Basin is approximately 84,680 net acres.
About 2.04M shares traded hands or 45.71% up from the average. Diamondback Energy Inc (NASDAQ:FANG) has risen 24.14% since April 28, 2016 and is uptrending. It has outperformed by 18.21% the S&P500.
Analysts await Diamondback Energy Inc (NASDAQ:FANG) to report earnings on February, 21. They expect $0.51 EPS, down 12.07% or $0.07 from last year’s $0.58 per share. FANG’s profit will be $45.00M for 54.44 P/E if the $0.51 EPS becomes a reality. After $0.54 actual EPS reported by Diamondback Energy Inc for the previous quarter, Wall Street now forecasts -5.56% negative EPS growth.
According to Zacks Investment Research, “Diamondback Energy, Inc. is an oil and natural gas company 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’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations. Diamondback Energy, Inc. is headquartered in Midland, Texas.”
Brenham Capital Management L.P. holds 14.59% of its portfolio in Diamondback Energy Inc for 1.25 million shares. Bocage Capital Llc owns 102,925 shares or 5.9% of their US portfolio. Moreover, Geosphere Capital Management has 4.59% invested in the company for 51,000 shares. The California-based Cambrian Capital Limited Partnership has invested 3.55% in the stock. Scholtz & Company Llc, a Connecticut-based fund reported 32,685 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 12 sales for $6.42 million net activity.
Ratings analysis reveals 83% of Diamondback Energy’s analysts are positive. Out of 30 Wall Street analysts rating Diamondback Energy, 25 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $65 while the high is $139. The stock’s average target of $96.04 is -13.52% below today’s ($111.06) share price. FANG was included in 60 notes of analysts from July 21, 2015. Northland Capital maintained the shares of FANG in a report on Friday, August 7 with “Outperform” rating. Iberia Capital Partners downgraded the shares of FANG in a report on Monday, August 17 to “Sector Perform” rating. The firm earned “Buy” rating on Tuesday, October 20 by Canaccord Genuity. Howard Weil maintained Diamondback Energy Inc (NASDAQ:FANG) on Wednesday, January 13 with “Sector Outperform” rating. The firm has “Overweight” rating given on Friday, August 14 by KeyBanc Capital Markets. The firm has “Buy” rating given on Thursday, January 14 by Wunderlich. On Tuesday, November 17 the stock rating was maintained by TH Capital with “Buy”. The rating was maintained by Topeka Capital Markets on Tuesday, October 6 with “Buy”. The stock of Diamondback Energy Inc (NASDAQ:FANG) earned “Overweight” rating by Morgan Stanley on Thursday, July 14. The stock has “Equalweight” rating given by Barclays Capital on Thursday, July 14.
Diamondback Energy, Inc., incorporated on December 30, 2011, is an independent oil and natural gas company. The Firm 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’s total net acreage position in the Permian Basin is approximately 84,680 net acres. The Company, through its subsidiary Viper Energy Partners LP (Viper), owns mineral interests underlying approximately 46,560 gross (17,060 net) acres primarily in Midland County, Texas in the Permian Basin. Approximately 60% of these net acres are operated by the Company. It has drilled or participated in the drilling 490 gross wells on its leasehold acreage in Permian Basin area, primarily targeting the Wolfberry play. The Permian Basin area covers a portion of western Texas and eastern New Mexico.
More news for Diamondback Energy Inc (NASDAQ:FANG) were recently published by: Zacks.com, which released: “Why the Earnings Streak Will Continue for Diamondback Energy (FANG)” on December 01, 2016. Streetinsider.com‘s article titled: “Moody’s Upgrades Diamondback Energy (FANG) to ‘Ba3’; Outlook Revised to Positive” and published on November 30, 2016 is yet another important article.
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By Clifton Ray