Williams Capital Comments on Diamondback Energy Inc.’s FY2016 Earnings (FANG)
Diamondback Energy Inc. (NASDAQ:FANG) – Equities research analysts at Williams Capital upped their FY2016 earnings per share (EPS) estimates for Diamondback Energy in a report released on Tuesday. Williams Capital analyst G. Sorbara now forecasts that the firm will post earnings of $1.33 per share for the year, up from their prior forecast of $1.01. Williams Capital has a “Hold” rating and a $112.00 price objective on the stock. Williams Capital also issued estimates for Diamondback Energy’s Q3 2018 earnings at $1.39 EPS and FY2018 earnings at $5.26 EPS.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.20. Diamondback Energy had a negative net margin of 82.83% and a positive return on equity of 4.26%. The company earned $142.13 million during the quarter, compared to analyst estimates of $142.58 million. During the same quarter last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis.
Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG upped their target price on shares of Diamondback Energy from $104.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Roth Capital raised shares of Diamondback Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $104.00 in a report on Monday, August 8th. Credit Suisse Group AG reissued a “buy” rating and issued a $108.00 price objective on shares of Diamondback Energy in a report on Friday, August 5th. SunTrust Banks Inc. upped their price objective on shares of Diamondback Energy from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $95.00 price objective on shares of Diamondback Energy in a report on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $101.50.
Diamondback Energy (NASDAQ:FANG) opened at 95.49 on Thursday. The stock’s market cap is $7.45 billion. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $106.84. The firm’s 50-day moving average is $96.39 and its 200-day moving average is $92.03.
In other Diamondback Energy news, COO Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Elizabeth Moses sold 2,000 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $88.66, for a total value of $177,320.00. Following the completion of the sale, the vice president now directly owns 11,709 shares of the company’s stock, valued at approximately $1,038,119.94. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in Diamondback Energy during the first quarter worth approximately $1,544,000. Peconic Partners LLC acquired a new stake in Diamondback Energy during the first quarter worth approximately $386,000. Barclays PLC increased its stake in Diamondback Energy by 353.8% in the first quarter. Barclays PLC now owns 21,553 shares of the company’s stock worth $1,660,000 after buying an additional 16,804 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Diamondback Energy during the first quarter worth approximately $804,000. Finally, Magnetar Financial LLC increased its stake in Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock worth $57,777,000 after buying an additional 348,600 shares during the period. 99.53% 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.
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