Diamondback Energy Inc (FANG) is Reiterated by Wunderlich to Buy, Raises Price Target to $ 110

Diamondback Energy Inc (FANG) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 110 from a previous price target of $100 . Wunderlich advised their investors in a research report released on Jul 14, 2016.

Many Wall Street Analysts have commented on Diamondback Energy Inc. BofA/Merrill Initiated Diamondback Energy Inc on Jul 13, 2016 to “Neutral”, Price Target of the shares are set at $106.Piper Jaffray Resumed Diamondback Energy Inc on Jul 11, 2016 to “Overweight”, Price Target of the shares are set at $101.Company shares were Reiterated by Wunderlich on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $95 .

On the company’s financial health, Diamondback Energy Inc reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.06. The company had revenue of $87.48 million for the quarter, compared to analysts expectations of $89.55 million. The company’s revenue was down -13.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Diamondback Energy Inc closed down -0.92 points or -1.00% at $91.04 with 46,02,942 shares getting traded on Wednesday. Post opening the session at $90.27, the shares hit an intraday low of $89.2 and an intraday high of $92.45 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jul 6, 2016, Michael L. Hollis (VP and Chief Operating Officer) sold 4,000 shares at $91.03 per share price. According to the SEC, on Jul 6, 2016, Russell Pantermuehl (VP Reservoir Engineering) sold 2,000 shares at $91.01 per share price. On Jul 5, 2016, Travis D. Stice (Chief Executive Officer) sold 10,000 shares at $91.11 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.

Diamondback Energy Inc

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