Diamondback Energy Inc. (NASDAQ:FANG) – Analysts at Williams Capital upped their Q3 2016 EPS estimates for Diamondback Energy in a research note issued on Monday. Williams Capital analyst G. Sorbara now anticipates that the brokerage will post earnings per share of $0.28 for the quarter, up from their prior forecast of $0.24. Williams Capital has a “Hold” rating and a $112.00 price objective on the stock. Williams Capital also issued estimates for Diamondback Energy’s Q4 2016 earnings at $0.42 EPS, FY2016 earnings at $1.01 EPS, Q1 2017 earnings at $0.51 EPS, Q2 2017 earnings at $0.61 EPS, Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.81 EPS, FY2017 earnings at $2.64 EPS, Q3 2018 earnings at $1.27 EPS and FY2018 earnings at $4.81 EPS.

FANG has been the subject of a number of other reports. Mizuho assumed coverage on Diamondback Energy in a report on Wednesday, October 5th. They set a “buy” rating and a $105.00 price objective for the company. Canaccord Genuity upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, July 20th. Nomura restated a “buy” rating and set a $17.00 price objective on shares of Diamondback Energy in a report on Monday, September 26th. Deutsche Bank AG reiterated a “buy” rating and issued a $104.00 price target on shares of Diamondback Energy in a report on Thursday, August 4th. Finally, KLR Group increased their price target on Diamondback Energy from $126.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $98.28.

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

Shares of Diamondback Energy (NASDAQ:FANG) opened at 104.84 on Tuesday. The stock’s market capitalization is $8.18 billion. The stock has a 50 day moving average price of $94.31 and a 200 day moving average price of $89.31. Diamondback Energy has a 12-month low of $55.48 and a 12-month high of $106.84.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of FANG. FMR LLC raised its position in Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock valued at $773,449,000 after buying an additional 665,001 shares during the period. Wellington Management Group LLP raised its position in Diamondback Energy by 0.4% in the first quarter. Wellington Management Group LLP now owns 7,512,803 shares of the company’s stock valued at $579,839,000 after buying an additional 26,247 shares during the period. Boston Partners raised its position in Diamondback Energy by 4.4% in the second quarter. Boston Partners now owns 7,138,560 shares of the company’s stock valued at $651,109,000 after buying an additional 303,405 shares during the period. Vanguard Group Inc. raised its position in Diamondback Energy by 2.1% in the second quarter. Vanguard Group Inc. now owns 5,151,072 shares of the company’s stock valued at $469,829,000 after buying an additional 106,359 shares during the period. Finally, Winslow Capital Management LLC acquired a new position in Diamondback Energy during the second quarter valued at about $255,580,000. Hedge funds and other institutional investors own 99.74% of the company’s stock.

In other Diamondback Energy news, COO Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy 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 completion of the transaction, the vice president now owns 67,914 shares in the company, valued at approximately $5,795,780.76. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

About Diamondback Energy

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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