Movement Alert|Diamondback Intraday Rise 3.3%, Oil Price Gains Support Sector

Market Focus
Oct 09

On October 9, Diamondback Energy rose 3.3% in regular trading to $190.53/share, with turnover of $1.22 billion, as strength in crude oil prices and a recent upwardly revised price target supported shares of oil and gas exploration and production companies.

Brent crude gained that day, providing a lift across the sector, while BMO Capital raised its Diamondback target price to $224 from $215 and kept an outperform rating. The FactSet analyst mean target is $235.70.

Diamondback Energy, incorporated in Delaware in 2011, is an independent oil and natural gas company focused on acquiring, developing, exploring and producing unconventional onshore reserves primarily in the Permian Basin of West Texas.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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