Diamondback Energy (FANG) has risen sharply, recording gains of 9.73% in the past 4 weeks. However, the stock has corrected -2.29% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 9.96% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
For the current week, the company shares have a recommendation consensus of Buy. The stock has recorded a twenty day Moving Average of 3.12% and the fifty day Moving Average is 6.11%. Diamondback Energy, Inc. is up 3.74% in the last three month period. Year-to-Date the stock performance stands at 43.99%.
Diamondback Energy (FANG) : 19 Wall Street analysts covering Diamondback Energy (FANG) believe that the average level the stock could reach for the short term is $104.26. The maximum price target given is $135 and the minimum target for short term is around $82, hence the standard deviation is calculated at $12.94.
Diamondback Energy (NASDAQ:FANG): stock turned positive on Friday. Though the stock opened at $96.52, the bulls momentum made the stock top out at $97.39 level for the day. The stock recorded a low of $95.67 and closed the trading day at $96.33, in the green by 0.07%. The total traded volume for the day was 504,026. The stock had closed at $96.26 in the previous days trading.
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.