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 $179,910 were sold by Thompson Jere W III on May 03 ’24. At $199.90 per share, Thompson Jere W III sold 900 shares. The insider’s holdings dropped to 7,585 shares worth approximately $1.54 million following the completion of this transaction.
Also, Stice Travis D. sold 30,000 shares, netting a total of over 6,000,060 in proceeds. Following the sale of shares at $200.00 each, the insider now holds 446,610 shares.
Before that, Zmigrosky Matt had sold 5,000 shares from its account. In a trade valued at $969,684, the EVP, Chief Legal and Admin Off traded Diamondback Energy Inc shares for $193.94 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $9.03 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 3.68%. Over the course of the year, Diamondback Energy Inc shares have jumped approximately 32.60%. Shares of the company reached a 52-week high of $211.96 on 04/12/24 and a 52-week low of $147.93 on 02/05/24. A 50-day SMA is recorded $196.65, while a 200-day SMA reached $165.86. Nevertheless, trading volume fell to 1.39 million shares from 1.79 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 201.73, which, if violated, would cause prices to drop to 200.24. In the upper region, resistance lies at 204.74. The next price resistance is at 206.26. RSI (Relative Strength Index) is 54.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.77, which suggests the price will decrease in the coming days. Percent R is at 35.92%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
