Diamondback Energy Inc (NASDAQ:FANG) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 6,850,000 shares, a drop of 11.2% from the August 30th total of 7,710,000 shares. Approximately 4.2% of the shares of the company are sold short. Based on an average trading volume of 1,790,000 shares, the short-interest ratio is currently 3.8 days.

FANG has been the topic of several recent analyst reports. Williams Capital restated a “buy” rating and set a $165.00 price objective on shares of Diamondback Energy in a research report on Tuesday, July 30th. Citigroup decreased their price objective on shares of Diamondback Energy from $135.00 to $118.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. TD Securities downgraded shares of Diamondback Energy from an “action list buy” rating to a “buy” rating and set a $155.00 price objective on the stock. in a research report on Friday, September 6th. Oppenheimer decreased their price objective on shares of Diamondback Energy from $151.00 to $138.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, TheStreet downgraded shares of Diamondback Energy from a “b-” rating to a “c+” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $149.29.

In other news, Director Michael P. Cross sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total transaction of $104,750.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Travis D. Stice acquired 4,186 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $95.55 per share, for a total transaction of $399,972.30. The disclosure for this purchase can be found here. Insiders sold 16,000 shares of company stock worth $1,621,690 over the last quarter. Insiders own 0.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in FANG. Nuveen Asset Management LLC bought a new stake in Diamondback Energy in the 2nd quarter valued at $303,291,000. BlackRock Inc. increased its holdings in Diamondback Energy by 4.7% in the 2nd quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after acquiring an additional 485,647 shares during the last quarter. Balyasny Asset Management LLC increased its holdings in Diamondback Energy by 14,382.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 468,943 shares of the oil and natural gas company’s stock valued at $51,101,000 after acquiring an additional 465,705 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Diamondback Energy by 47.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,406,516 shares of the oil and natural gas company’s stock valued at $153,268,000 after acquiring an additional 453,267 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Diamondback Energy by 43.2% in the 2nd quarter. Bessemer Group Inc. now owns 941,887 shares of the oil and natural gas company’s stock worth $102,638,000 after buying an additional 284,343 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

NASDAQ FANG traded up $0.31 on Monday, reaching $83.96. The company had a trading volume of 1,196,436 shares, compared to its average volume of 1,788,846. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $13.46 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.41 and a beta of 0.77. The firm’s 50 day moving average price is $92.70 and its 200 day moving average price is $100.68. Diamondback Energy has a 12 month low of $80.75 and a 12 month high of $131.34.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The business’s revenue was up 93.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.59 earnings per share. On average, research analysts expect that Diamondback Energy will post 7.01 EPS for the current year.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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