Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at KeyCorp lifted their Q3 2017 earnings estimates for shares of Diamondback Energy in a research note issued to investors on Monday. KeyCorp analyst C. Stevens now anticipates that the oil and natural gas company will post earnings of $1.28 per share for the quarter, up from their previous estimate of $1.27. KeyCorp has a “Buy” rating and a $113.00 price objective on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.48 EPS, FY2017 earnings at $5.06 EPS, Q1 2018 earnings at $0.91 EPS, Q2 2018 earnings at $1.05 EPS, Q3 2018 earnings at $1.15 EPS, Q4 2018 earnings at $1.32 EPS and FY2018 earnings at $4.44 EPS.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.44. The company had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business’s revenue was up 137.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS.

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Other analysts have also issued research reports about the company. Scotiabank set a $95.00 price target on Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. BidaskClub lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Bank of America Corporation began coverage on Diamondback Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price target on the stock. Mizuho reaffirmed a “buy” rating and issued a $114.00 price target (up previously from $109.00) on shares of Diamondback Energy in a research note on Thursday, August 3rd. Finally, Northland Securities set a $125.00 price target on Diamondback Energy and gave the company a “buy” rating in a research note on Monday, August 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $120.38.

Diamondback Energy (NASDAQ FANG) opened at 100.75 on Wednesday. The stock’s 50 day moving average price is $92.65 and its 200 day moving average price is $95.17. The stock has a market capitalization of $9.89 billion, a PE ratio of 27.70 and a beta of 1.08. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00.

In other news, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $100.00, for a total transaction of $100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Molnar sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the sale, the vice president now owns 42,563 shares of the company’s stock, valued at approximately $4,045,187.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,805 shares of company stock valued at $1,129,501. 0.41% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in FANG. Johnson Financial Group Inc. bought a new stake in shares of Diamondback Energy during the second quarter worth $102,000. Cubist Systematic Strategies LLC raised its position in shares of Diamondback Energy by 46.7% during the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after acquiring an additional 700 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of Diamondback Energy during the second quarter worth $215,000. BB&T Securities LLC bought a new stake in shares of Diamondback Energy during the second quarter worth $217,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Diamondback Energy by 1.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock worth $224,000 after acquiring an additional 40 shares during the last quarter.

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.

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

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