The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Diamondback Energy Inc shares valued at $6,000,060 were sold by Stice Travis D. on Apr 02 ’24. At $200.00 per share, Stice Travis D. sold 30,000 shares. The insider’s holdings dropped to 446,610 shares worth approximately $92.1 million following the completion of this transaction.
Also, Zmigrosky Matt sold 5,000 shares, netting a total of over 969,684 in proceeds. Following the sale of shares at $193.94 each, the insider now holds 44,445 shares.
Before that, Dick Teresa L. had sold 2,000 shares from its account. In a trade valued at $387,840, the CAO, Exec. VP, Assist. Sec. traded Diamondback Energy Inc shares for $193.92 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $19.49 million.
As published in their initiating research note from Barclays on April 10, 2024, Diamondback Energy Inc [FANG] has been an Equal weight and the price target has been revised to $214. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. As of October 23, 2023, Citigroup has decreased its “Buy” rating to a “Neutral” for FANG. Earlier on July 13, 2023, The Benchmark Company initiated its rating. Their recommendation was “a Buy” for FANG stock.
Analyzing FANG Stock Performance
During the last five days, there has been a surge of approximately 1.48%. Over the course of the year, Diamondback Energy Inc shares have jumped approximately 34.57%. Shares of the company reached a 52-week high of $208.49 on 04/09/24 and a 52-week low of $147.93 on 02/05/24. A 50-day SMA is recorded $181.28, while a 200-day SMA reached $158.99. Nevertheless, trading volume fell to 1.18 million shares from 1.83 million shares the previous day.
Support And Resistance Levels for Diamondback Energy Inc (FANG)
According to the 24-hour chart, there is a support level at 204.39, which, if violated, would cause prices to drop to 202.55. In the upper region, resistance lies at 207.44. The next price resistance is at 208.65. RSI (Relative Strength Index) is 78.17 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.01, which suggests the price will increase in the coming days. Percent R is at 14.03%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Diamondback Energy Inc subject to short interest?
Stocks of Diamondback Energy Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.45 million shares to 5.51 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.06 million shares. A jump of 8.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.84.
