Diamondback Energy Inc (NASDAQ:FANG) has been downgraded to Hold in a report by Zacks Investment Research today.
- Updated: September 30, 2016
Boasting a price of $95.53, Diamondback Energy Inc (NASDAQ:FANG) traded 2.30% higher on the day. With the last stock price close up 8.43% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Diamondback Energy Inc has recorded a 50-day average of $94.13 and a two hundred day average of $88.10. Volume of trade was up over the average, with 1,539,977 shares of FANG changing hands over the typical 1,069,890
Zacks Investment Research has downgraded Diamondback Energy Inc (NASDAQ:FANG) to Hold in a statement released on 9/30/2016.
On 09/29/2016, Zacks Investment Research released a statement for Diamondback Energy Inc (NASDAQ:FANG) bumped up the target price from $0.00 to $107.00 that suggested an upside of 0.12%.
With a total market value of $0, Diamondback Energy Inc has with a one year low of $55.48 and a one year high of $99.69 .
A total of 30 equity analysts have released a research note on FANG. Four equity analysts rating the company a strong buy, twenty-four equity analysts rating the company a buy, five equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $93.97.
More 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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