Diamondback Energy, Inc. (FANG) Files Form 4 Insider Selling : Michael L. Hollis Sells 2,000 Shares

Diamondback Energy, Inc. (FANG): Michael L. Hollis , VP and Chief Operating Officer of Diamondback Energy, Inc. sold 2,000 shares on May 26, 2016. The Insider selling transaction was reported by the company on May 27, 2016 to the Securities and Exchange Commission. The shares were sold at $90.00 per share for a total value of $180,000.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 27, 2016, Paul Molnar (VP Geoscience) sold 4,722 shares at $91.47 per share price.On May 26, 2016, Teresa L. Dick (CFO, Sr. VP) sold 3,000 shares at $89.50 per share price.Also, On May 3, 2016, Russell Pantermuehl (VP Reservoir Engineering) sold 2,000 shares at $86.72 per share price.On Apr 19, 2016, Michael L. Hollis (VP and Chief Operating Officer) sold 2,000 shares at $80.87 per share price.

Diamondback Energy Inc: On Wednesday, May 25, 2016 heightened volatility was witnessed in Diamondback Energy Inc which led to swings in the share price. The shares opened for trading at $88.44 and hit $89.79 on the upside , eventually ending the session at $89.74, with a gain of 2.01% or 1.77 points. The heightened volatility saw the trading volume jump to 10,04,810 shares. The 52-week high of the share price is $89.22 and the company has a market cap of $6,435 M . The 52-week low of the share price is at $55.48.

Diamondback Energy Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.Diamondback Energy Inc is Reiterated by Wunderlich to Buy and the brokerage firm has raised the Price Target to $ 100 from a previous price target of $95 .The Rating was issued on May 5, 2016.Diamondback Energy Inc is Reiterated by Topeka Capital Markets to Buy and the brokerage firm has raised the Price Target to $ 96 from a previous price target of $85 .The Rating was issued on May 4, 2016.

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.

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Diamondback Energy Inc - Is it time to Sell?

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