The President & COO of Diamondback (FANG) is Buying Shares


Today, the President & COO of Diamondback (FANG), Michael Hollis, bought shares of FANG for $505.3K.

This is Hollis’ first Buy trade following 13 Sell transactions. Following this transaction Michael Hollis’ holding in the company was increased by 3.93% to a total of $13.7 million.

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Based on Diamondback’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $633 million and quarterly net profit of $307 million. In comparison, last year the company earned revenue of $399 million and had a net profit of $115 million. FANG’s market cap is $16.03B and the company has a P/E ratio of 12.26. Currently, Diamondback has an average volume of 1.92M.

Based on 10 analyst ratings, the analyst consensus is Strong Buy with an average price target of $147.50, reflecting a 46.8% upside. 10 different firms, including Barclays and BMO Capital, currently also have a Buy rating on the stock. Starting in January 2019, FANG received 9 Buy ratings in a row.

The insider sentiment on Diamondback has been negative according to 53 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Diamondback Energy, Inc. is independent oil and natural gas company. The firm engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It focuses on the Permian Basin. The company was founded in December 2007 and is headquartered in Midland, TX.