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

Diamondback Energy, Inc. (FANG): Michael L. Hollis , VP and Chief Operating Officer of Diamondback Energy, Inc. sold 4,000 shares on Jul 1, 2016. The Insider selling transaction was reported by the company on Jul 6, 2016 to the Securities and Exchange Commission. The shares were sold at $91.03 per share for a total value of $363,912.47 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, 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.Also, On May 27, 2016, Teresa L. Dick (CFO, Sr. VP) sold 5,000 shares at $91.09 per share price.On May 27, 2016, Michael L. Hollis (VP and Chief Operating Officer) sold 2,000 shares at $90.00 per share price.

Shares of Diamondback Energy Inc (FANG) ended Tuesday, Jul 6, 2016 session in red amid volatile trading. The shares closed down -1.01 points or -1.12% at $89.53 with 9,90,128 shares getting traded. Post opening the session at $89.54, the shares hit an intraday low of $87.7505 and an intraday high of $90.005 and the price vacillated in this range throughout the day. The company has a market cap of $6,420 M and the number of outstanding shares has been calculated to be 7,17,02,583 shares. The 52-week high of Diamondback Energy Inc is $96.01 and the 52-week low is $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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