Diamondback Energy Inc. (NASDAQ:FANG) – Equities research analysts at Williams Capital upped their FY2018 earnings per share estimates for Diamondback Energy in a report released on Monday. Williams Capital analyst G. Sorbara now anticipates that the brokerage will post earnings per share of $5.35 for the year, up from their prior estimate of $5.26. Williams Capital currently has a “Hold” rating and a $112.00 price target on the stock.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.20. The company earned $142.13 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS.

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

A number of other research analysts have also recently commented on FANG. Canaccord Genuity upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, July 20th. Simmons reaffirmed an “overweight” rating and issued a $106.00 price objective (up from $101.00) on shares of Diamondback Energy in a research note on Tuesday, July 26th. BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Diamondback Energy in a research note on Wednesday, August 3rd. SunTrust Banks Inc. raised their price objective on Diamondback Energy from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Diamondback Energy in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $101.50.

Shares of Diamondback Energy (NASDAQ:FANG) remained flat at $97.59 during mid-day trading on Tuesday. 1,505,717 shares of the stock traded hands. The stock’s 50-day moving average price is $96.96 and its 200-day moving average price is $92.26. Diamondback Energy has a 1-year low of $55.48 and a 1-year high of $106.84. The company’s market cap is $7618.46 billion.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position 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 in the last quarter. BOKF NA boosted its position 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 in the last quarter. Seven Eight Capital LLC acquired a new position in Diamondback Energy during the second quarter valued at $119,000. Advisor Group Inc. acquired a new position in Diamondback Energy during the second quarter valued at $120,000. Finally, 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.

In related news, 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 transaction of $1,040,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Elizabeth Moses sold 2,000 shares of Diamondback Energy stock in a transaction that occurred 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 transaction, the vice president now directly owns 11,709 shares in the company, valued at approximately $1,038,119.94. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

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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