Q3 2017 EPS Estimates for Diamondback Energy, Inc. Boosted by Analyst (FANG)
Diamondback Energy, Inc. (NASDAQ:FANG) – SunTrust Banks upped their Q3 2017 earnings estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will earn $1.23 per share for the quarter, up from their prior forecast of $1.15. SunTrust Banks has a “Buy” rating and a $120.00 price objective on the stock. SunTrust Banks also issued estimates for Diamondback Energy’s FY2017 earnings at $4.91 EPS.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.44. The firm had revenue of $267.40 million during the quarter, compared to analyst estimates of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. Diamondback Energy’s quarterly revenue was up 137.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share.
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A number of other equities research analysts have also weighed in on FANG. BMO Capital Markets restated a “buy” rating and issued a $100.00 price objective on shares of Diamondback Energy in a report on Tuesday, June 27th. Scotiabank set a $95.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a report on Saturday, July 1st. BidaskClub upgraded shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Barclays PLC restated a “hold” rating and issued a $93.00 price objective on shares of Diamondback Energy in a report on Friday, July 7th. Finally, TheStreet lowered shares of Diamondback Energy from a “b-” rating to a “c” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $122.13.
Shares of Diamondback Energy (NASDAQ FANG) opened at 102.19 on Tuesday. The company has a 50 day moving average price of $96.42 and a 200-day moving average price of $95.13. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 28.10 and a beta of 1.08.
A number of hedge funds have recently modified their holdings of FANG. Johnson Financial Group Inc. purchased a new stake in Diamondback Energy during the second quarter worth approximately $102,000. Cubist Systematic Strategies LLC grew its stake in 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 buying an additional 700 shares during the period. Sentry Investment Management LLC purchased a new stake in Diamondback Energy during the second quarter worth approximately $215,000. BB&T Securities LLC purchased a new stake in Diamondback Energy during the second quarter worth approximately $217,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in 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 buying an additional 40 shares during the period. 98.59% of the stock is owned by hedge funds and other institutional investors.
In related 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 transaction of $57,518.50. Following the completion of the transaction, the vice president now owns 4,950 shares of the company’s stock, valued at $438,025.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Molnar sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total transaction of $475,200.00. Following the transaction, the vice president now directly 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. Insiders have sold 12,805 shares of company stock valued at $1,239,381 in the last ninety days. 0.41% of the stock is currently owned by company insiders.
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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