Williams Capital Weighs in on Diamondback Energy Inc.’s FY2017 Earnings (FANG)
Diamondback Energy Inc. (NASDAQ:FANG) – Stock analysts at Williams Capital raised their FY2017 earnings estimates for shares of Diamondback Energy in a report issued on Monday. Williams Capital analyst G. Sorbara now anticipates that the brokerage will post earnings of $2.65 per share for the year, up from their previous forecast of $2.64. Williams Capital currently has a “Hold” rating and a $112.00 target price on the stock.
Several other equities analysts also recently weighed in on FANG. Simmons restated an “overweight” rating and set a $109.00 price target (up from $106.00) on shares of Diamondback Energy in a report on Saturday, August 13th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Wednesday, June 29th. Barclays PLC raised their price target on Diamondback Energy from $85.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 14th. BMO Capital Markets restated a “buy” rating and set a $95.00 price target on shares of Diamondback Energy in a report on Wednesday, August 3rd. Finally, KLR Group restated a “buy” rating and set a $122.00 price target (up from $103.00) on shares of Diamondback Energy in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $100.50.
Shares of Diamondback Energy (NASDAQ:FANG) traded down 0.55% during midday trading on Tuesday, reaching $99.92. 539,617 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $94.99 and a 200 day moving average price of $90.03. The company’s market cap is $7.80 billion. 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 data on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The firm had revenue of $112.48 million for the quarter, compared to the consensus estimate of $112.47 million. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in FANG. Creative Planning increased its stake in Diamondback Energy by 7.3% in the third quarter. Creative Planning now owns 1,073 shares of the company’s stock worth $104,000 after buying an additional 73 shares during the last quarter. Seven Eight Capital LLC purchased a new stake in Diamondback Energy during the second quarter worth about $119,000. Advisor Group Inc. purchased a new stake in Diamondback Energy during the second quarter worth about $120,000. PNC Financial Services Group Inc. increased its stake 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 worth $125,000 after buying an additional 491 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Diamondback Energy by 537.9% in the third quarter. BNP Paribas Arbitrage SA now owns 1,499 shares of the company’s stock worth $145,000 after buying an additional 1,264 shares during the last quarter. 99.74% of the stock is currently owned by institutional investors and hedge funds.
In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $2,940,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michael L. Hollis sold 10,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $104.00, for a total value of $1,040,000.00. The disclosure for this sale can be found here. 0.52% of the stock is 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.
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