Equities Analysts Set Expectations for Diamondback Energy, Inc.’s Q3 2017 Earnings (NASDAQ:FANG)
Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Seaport Global Securities dropped their Q3 2017 earnings estimates for shares of Diamondback Energy in a report released on Monday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will earn $1.11 per share for the quarter, down from their prior forecast of $1.12. Seaport Global Securities also issued estimates for Diamondback Energy’s FY2018 earnings at $2.64 EPS.
FANG has been the subject of several other research reports. Wells Fargo & Company reiterated an “outperform” rating and set a $110.00 target price (down previously from $125.00) on shares of Diamondback Energy in a research report on Saturday, July 22nd. BidaskClub cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Roth Capital set a $130.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Bank of America Corporation began coverage on shares of Diamondback Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $115.00 target price for the company. Finally, BMO Capital Markets reiterated a “buy” rating and set a $100.00 target price on shares of Diamondback Energy in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $115.77.
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Shares of Diamondback Energy (FANG) opened at 94.58 on Wednesday. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $114.00. The firm has a market capitalization of $9.28 billion, a PE ratio of 2012.34 and a beta of 1.06. The company has a 50-day moving average price of $90.35 and a 200 day moving average price of $98.52.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. During the same period last year, the firm earned $0.26 EPS. The firm’s revenue was up 137.7% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in Diamondback Energy by 778.0% in the first quarter. Creative Planning now owns 11,712 shares of the oil and natural gas company’s stock worth $1,215,000 after buying an additional 10,378 shares in the last quarter. Gulf International Bank UK Ltd increased its position in Diamondback Energy by 24.8% in the first quarter. Gulf International Bank UK Ltd now owns 28,675 shares of the oil and natural gas company’s stock worth $2,974,000 after buying an additional 5,700 shares in the last quarter. CWM LLC increased its position in Diamondback Energy by 6.9% in the first quarter. CWM LLC now owns 12,911 shares of the oil and natural gas company’s stock worth $1,339,000 after buying an additional 829 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Diamondback Energy during the first quarter worth approximately $231,000. Finally, State of Alaska Department of Revenue acquired a new position in Diamondback Energy during the first quarter worth approximately $180,000. Institutional investors own 97.20% of the company’s stock.
In other news, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven E. West acquired 2,400 shares of Diamondback Energy stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $103.45 per share, with a total value of $248,280.00. Following the completion of the purchase, the director now owns 2,400 shares in the company, valued at $248,280. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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