On a relative basis, the stock has outperformed the S&P 500 by 3.83% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.05% in the last 1 week, and is up 3.69% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 0.76% and the 50-Day Moving Average is 5.34%.The 200 Day SMA reached 19.28%. Diamondback Energy, Inc. is up 6.06% in the last 3-month period. Year-to-Date the stock performance stands at 44.07%.
Diamondback Energy (NASDAQ:FANG): After opening at $96.17, the stock dipped to an intraday low of $95.75 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $96.83 and the buying power remained strong till the end. The stock closed at $96.38 for the day, a gain of 1.17% for the day session. The total traded volume was 569,751. The stocks close on the previous trading day was $95.27.
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.