November 9, 2016 - 2:26 PM EST
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Midday Update: Diamondback Energy Inc. (FANG) Charges Ahead 4.36% on November 9

Diamondback Energy Inc. (FANG) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on November 9. At the lunch break, shares of FANG have gained 4.36% to $97.83 after closing the day prior at $93.74. In the first two and a half hours of trading, the stock has gone as high as $98.55 and as low as $93.17. Today's rise has come with about 727,588 shares changing hands, compared to an average 30-day volume of 1.39 million for Diamondback Energy Inc.. The price is currently below the 30-day volume weighted average price of $96.09 for FANG. The share appreciation gives the company a market capitalization of $7.31 billion based upon 78.03 million shares outstanding. It also means that FANG has a price-to-book ratio of 3.74:1. In the past 52 weeks, shares of FANG have traded as low as $55.48 and as high as $106.84. Technical traders will take note that at $97.83, shares of FANG are trading above their 200-day MA at $86.79 and above their 50-day MA at $95.3. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish. Who is FANG? Diamondback Energy Inc is an independent oil and natural gas company. It is currently engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. The company’s 141 employees are led by CEO Travis D. Stice from the corporate headquarters at 500 West Texas Avenue in Midrand, TX. For more information on FANG and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. is not responsible for inaccuracies in third-party supplied information. About is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at

Source: Financial Press News (November 9, 2016 - 2:26 PM EST)

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