Diamondback Energy Inc. (NASDAQ:FANG) – Analysts at Seaport Global Securities boosted their Q1 2017 earnings per share (EPS) estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Kelly now anticipates that the firm will earn $0.56 per share for the quarter, up from their prior forecast of $0.50.

Other equities research analysts have also issued research reports about the stock. Barclays PLC boosted their price target on shares of Diamondback Energy from $88.00 to $108.00 and gave the company an “equal weight” rating in a report on Tuesday. Canaccord Genuity boosted their price target on shares of Diamondback Energy from $103.00 to $116.00 and gave the company a “buy” rating in a report on Tuesday. Wunderlich boosted their price target on shares of Diamondback Energy from $110.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday. KLR Group boosted their price target on shares of Diamondback Energy from $126.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Simmons reissued an “overweight” rating and issued a $109.00 price target (up previously from $106.00) on shares of Diamondback Energy in a report on Saturday, August 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $98.17.

Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

Diamondback Energy (NASDAQ:FANG) traded down 0.176% during mid-day trading on Tuesday, hitting $105.025. 1,101,274 shares of the company’s stock were exchanged. Diamondback Energy has a 52 week low of $55.48 and a 52 week high of $106.84. The stock’s market capitalization is $8.20 billion. The firm has a 50 day moving average of $94.07 and a 200 day moving average of $89.20.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The company had revenue of $112.48 million for the quarter, compared to the consensus estimate of $112.47 million. During the same period in the previous year, the firm earned $0.41 EPS. Diamondback Energy’s revenue was down 5.5% on a year-over-year basis.

In other news, CFO Teresa L. Dick sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.71, for a total transaction of $95,710.00. Following the completion of the transaction, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at approximately $2,464,532.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $85.34, for a total transaction of $170,680.00. Following the transaction, the vice president now directly owns 67,914 shares of the company’s stock, valued at $5,795,780.76. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Seven Eight Capital LLC purchased a new position in Diamondback Energy during the second quarter valued at $119,000. Advisor Group Inc. purchased a new position in Diamondback Energy during the second quarter valued at $120,000. PNC Financial Services Group Inc. boosted its position in Diamondback Energy by 56.6% in the second quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the company’s stock valued at $125,000 after buying an additional 491 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Diamondback Energy by 537.9% in the third quarter. BNP Paribas Arbitrage SA now owns 1,499 shares of the company’s stock valued at $145,000 after buying an additional 1,264 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in Diamondback Energy by 7.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 2,082 shares of the company’s stock valued at $161,000 after buying an additional 141 shares in the last quarter. 99.74% of the stock is owned by institutional investors.

Diamondback Energy Company Profile

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. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.

5 Day Chart for NASDAQ:FANG

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