A statement released earlier today by Zacks Investment Research about Diamondback Energy Inc (NASDAQ:FANG) ups the target price to $116.00
- Updated: October 13, 2016
Indicating a possible upside of 0.12%, Zacks Investment Research increased the stock price target of Diamondback Energy Inc (NASDAQ:FANG) to $116.00
Previously on 10/11/2016, KLR Group reported about Diamondback Energy Inc (NASDAQ:FANG) raised the target price from $126.00 to $139.00. At the time, this indicated a possible upside of 0.32%.
Yesterday Diamondback Energy Inc (NASDAQ:FANG) traded -0.97% lower at $103.53. The company’s 50-day moving average is $94.74 and its 200-day moving average is $89.52. The last stock close price is up 15.65% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 1,046,559 shares of the stock were exchanged, down from an average trading volume of 1,122,720
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Diamondback Energy Inc has a 52 week low of $55.48 and a 52 week high of $106.84 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 30 brokers have issued a report on the stock. The consensus target price is $93.97 with 4 brokers rating the stock a strong buy, 24 brokers rating the stock a buy, 5 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Diamondback Energy Inc (NASDAQ:FANG)
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. Its 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. Its activities are focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, which it collectively refers as the Wolfberry play.
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