Diamondback Energy Inc (NASDAQ:FANG) had its price objective reduced by KLR Group from $104.00 to $96.00 in a research note released on Wednesday morning, StockTargetPrices.com reports.

In related news, CFO Teresa L. Dick sold 1,400 shares of the firm’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $80.00, for a total transaction of $112,000.00. Following the completion of the sale, the chief financial officer now directly owns 21,579 shares of the company’s stock, valued at approximately $1,726,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wexford Capital Lp sold 24,749 shares of the firm’s stock in a transaction dated Wednesday, November 18th. The stock was sold at an average price of $80.04, for a total value of $1,980,909.96. Following the sale, the director now directly owns 77,054 shares of the company’s stock, valued at $6,167,402.16. The disclosure for this sale can be found here.

Several hedge funds have modified their holdings of FANG. Eagle Asset Management increased its stake in shares of Diamondback Energy by 109.3% in the third quarter. Eagle Asset Management now owns 2,049,358 shares of the company’s stock worth $132,388,000 after buying an additional 1,070,108 shares during the last quarter. Janus Capital Management acquired a new stake in shares of Diamondback Energy during the third quarter worth about $2,112,000. First American Bank acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $303,000. Finally, Benjamin F. Edwards & Company acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $0.

Shares of Diamondback Energy (NASDAQ:FANG) traded down 6.18% during trading on Wednesday, reaching $62.08. 1,283,331 shares of the company’s stock traded hands. The stock’s market cap is $4.14 billion. Diamondback Energy has a one year low of $55.48 and a one year high of $85.82. The company has a 50 day moving average price of $66.99 and a 200-day moving average price of $70.22.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.08. During the same period in the previous year, the company posted $0.61 earnings per share. The firm had revenue of $111.90 million for the quarter, compared to analysts’ expectations of $128.72 million. The business’s quarterly revenue was down 19.6% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy will post $1.64 EPS for the current fiscal year.

FANG has been the topic of several other research reports. Evercore ISI initiated coverage on shares of Diamondback Energy in a report on Friday, October 2nd. They issued a buy rating and a $86.00 price target on the stock. Canaccord Genuity initiated coverage on shares of Diamondback Energy in a report on Monday, October 19th. They issued a buy rating and a $86.00 price target on the stock. Barclays increased their price target on shares of Diamondback Energy from $70.00 to $71.00 in a report on Wednesday, October 14th. JPMorgan Chase & Co. initiated coverage on shares of Diamondback Energy in a report on Wednesday, December 9th. They issued an overweight rating and a $94.00 price target on the stock. Finally, Topeka Capital Markets cut their price target on shares of Diamondback Energy from $92.00 to $88.00 and set a buy rating on the stock in a report on Tuesday, October 6th. Four analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Diamondback Energy currently has a consensus rating of Buy and a consensus price target of $86.85.

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 (NASDAQ:FANG) 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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