Diamondback Energy Inc. (NASDAQ:FANG) – Investment analysts at KeyCorp increased their Q4 2016 earnings estimates for shares of Diamondback Energy in a research report issued on Tuesday. KeyCorp analyst C. Stevens now anticipates that the brokerage will post earnings of $0.80 per share for the quarter, up from their prior forecast of $0.79. KeyCorp has a “Overweight” rating and a $110.00 price objective on the stock. KeyCorp also issued estimates for Diamondback Energy’s FY2017 earnings at $2.91 EPS, Q1 2018 earnings at $1.22 EPS, Q2 2018 earnings at $1.41 EPS and FY2018 earnings at $6.20 EPS.

A number of other equities analysts also recently commented on FANG. Simmons restated an “overweight” rating and set a $109.00 target price (up previously from $106.00) on shares of Diamondback Energy in a report on Saturday, August 13th. JPMorgan Chase & Co. restated a “buy” rating and set a $108.00 target price on shares of Diamondback Energy in a report on Monday, August 15th. BMO Capital Markets restated a “buy” rating and set a $95.00 target price on shares of Diamondback Energy in a report on Wednesday, August 3rd. Roth Capital upgraded Diamondback Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $104.00 in a report on Monday, August 8th. Finally, Canaccord Genuity restated a “buy” rating and set a $116.00 target price (up previously from $103.00) on shares of Diamondback Energy in a report on Tuesday, October 11th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $101.50.

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

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 7th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.20. The business earned $142.13 million during 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%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS.

Several hedge funds have recently added to or reduced their stakes in the company. Winslow Capital Management LLC acquired a new stake in Diamondback Energy during the second quarter valued at about $255,580,000. FMR LLC boosted its stake 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 in the last quarter. Boston Partners boosted its stake in Diamondback Energy by 8.4% in the third quarter. Boston Partners now owns 7,736,867 shares of the company’s stock valued at $746,917,000 after buying an additional 598,307 shares in the last quarter. LNZ Capital LP acquired a new stake in Diamondback Energy during the third quarter valued at about $50,751,000. Finally, Fiera Capital Corp acquired a new stake in Diamondback Energy during the second quarter valued at about $41,604,000.

In related news, VP Elizabeth Moses sold 2,000 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $88.66, for a total transaction of $177,320.00. Following the completion of the sale, the vice president now owns 11,709 shares in the company, valued at $1,038,119.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael L. Hollis sold 1,000 shares of the stock in a transaction dated 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. 0.35% of the stock is owned by insiders.

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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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