Diamondback Energy (FANG) : Traders are bullish on Diamondback Energy (FANG) as it has outperformed the S&P 500 by a wide margin of 1.72% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.43%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.88% in the last 1 week, and is up 4.25% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Diamondback Energy (NASDAQ:FANG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $89.27 and $89.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $93.84. The buying momentum continued till the end and the stock did not give up its gains. It closed at $92.95, notching a gain of 4.54% for the day. The total traded volume was 1,744,731 . The stock had closed at $88.91 on the previous day.
The stock has recorded a 20-day Moving Average of 5.07% and the 50-Day Moving Average is 3.87%. Diamondback Energy, Inc. is up 8.76% in the last 3-month period. Year-to-Date the stock performance stands at 38.94%.
Diamondback Energy (FANG) : 20 Wall Street analysts covering Diamondback Energy (FANG) believe that the average level the stock could reach for the short term is $102.55. The maximum price target given is $135 and the minimum target for short term is around $82, hence the standard deviation is calculated at $13.
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 24,528 gross (15,948 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 Companys activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, which it refers to collectively as the Wolfberry play.