Diamondback Energy, Inc. (FANG) Forecasted to Post Q4 2017 Earnings of $1.31 Per Share
Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Seaport Global Securities boosted their Q4 2017 EPS estimates for shares of Diamondback Energy in a research note issued on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will earn $1.31 per share for the quarter, up from their prior forecast of $1.29. Seaport Global Securities also issued estimates for Diamondback Energy’s Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.72 EPS and Q4 2018 earnings at $0.78 EPS.
Several other research firms have also commented on FANG. BidaskClub raised shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Roth Capital increased their target price on shares of Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. BMO Capital Markets set a $100.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, August 1st. Northland Securities set a $125.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Monday, July 17th. Finally, Barclays PLC reissued a “hold” rating and set a $93.00 target price on shares of Diamondback Energy in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $120.38.
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Shares of Diamondback Energy (NASDAQ:FANG) traded down 1.47% on Thursday, hitting $98.28. 137,481 shares of the stock were exchanged. The firm’s 50-day moving average is $92.98 and its 200-day moving average is $95.20. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The company has a market cap of $9.64 billion, a P/E ratio of 27.02 and a beta of 1.08.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The business had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. During the same period last year, the company posted $0.26 EPS. The company’s revenue was up 137.7% on a year-over-year basis.
In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 650 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total value of $57,518.50. Following the transaction, the vice president now owns 4,950 shares in the company, valued at approximately $438,025.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael L. Hollis sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,805 shares of company stock worth $1,129,501. Company insiders own 0.41% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. acquired a new position in Diamondback Energy in the 2nd quarter valued at approximately $102,000. Cubist Systematic Strategies LLC increased its stake in Diamondback Energy by 46.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after buying an additional 700 shares during the period. Sentry Investment Management LLC acquired a new position in Diamondback Energy in the 2nd quarter valued at approximately $215,000. BB&T Securities LLC acquired a new position in Diamondback Energy in the 2nd quarter valued at approximately $217,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Diamondback Energy by 1.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock valued at $224,000 after buying an additional 40 shares during the period.
Diamondback Energy Company Profile
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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