Roth Capital Weighs in on Diamondback Energy Inc.’s Q1 2017 Earnings (FANG)
Diamondback Energy Inc. (NASDAQ:FANG) – Equities research analysts at Roth Capital cut their Q1 2017 EPS estimates for Diamondback Energy in a note issued to investors on Thursday. Roth Capital analyst J. White now expects that the brokerage will post earnings of $0.58 per share for the quarter, down from their prior estimate of $0.63. Roth Capital has a “Buy” rating and a $104.00 price target on the stock. Roth Capital also issued estimates for Diamondback Energy’s Q2 2017 earnings at $0.63 EPS, Q3 2017 earnings at $0.87 EPS and Q4 2017 earnings at $0.98 EPS.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 7th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.20. The business had revenue of $142.13 million for the quarter, compared to analyst estimates of $142.58 million. Diamondback Energy had a positive return on equity of 4.26% and a negative net margin of 82.83%. Diamondback Energy’s revenue was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share.
A number of other brokerages have also commented on FANG. Wunderlich lifted their price target on Diamondback Energy from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. KLR Group boosted their target price on Diamondback Energy from $126.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Canaccord Genuity restated a “buy” rating and issued a $116.00 target price (up from $103.00) on shares of Diamondback Energy in a research note on Tuesday, October 11th. Barclays PLC boosted their target price on Diamondback Energy from $88.00 to $108.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 11th. Finally, Williams Capital restated a “hold” rating and issued a $112.00 target price (up from $105.00) on shares of Diamondback Energy in a research note on Monday, October 10th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.50.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 95.49 on Monday. The company has a 50-day moving average price of $96.39 and a 200 day moving average price of $92.03. The firm’s market capitalization is $7.45 billion. Diamondback Energy has a 1-year low of $55.48 and a 1-year high of $106.84.
Several hedge funds and other institutional investors have recently made changes to their positions 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 valued at $104,000 after buying an additional 73 shares during the last quarter. BOKF NA increased its stake in Diamondback Energy by 12.8% in the third quarter. BOKF NA now owns 1,208 shares of the company’s stock valued at $116,000 after buying an additional 137 shares during the last quarter. Seven Eight Capital LLC bought a new stake in Diamondback Energy during the second quarter valued at $119,000. Advisor Group Inc. bought a new stake in Diamondback Energy during the second quarter valued at $120,000. Finally, 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 valued at $125,000 after buying an additional 491 shares during the last quarter.
In other news, VP Elizabeth Moses sold 2,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $88.66, for a total value of $177,320.00. Following the completion of the transaction, the vice president now owns 11,709 shares of the company’s stock, valued at approximately $1,038,119.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael L. Hollis sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by 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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