Diamondback Energy, Inc. (NASDAQ:FANG) – Analysts at KeyCorp increased their Q3 2017 earnings per share estimates for Diamondback Energy in a research report issued on Wednesday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will post earnings per share of $1.30 for the quarter, up from their prior forecast of $1.28. KeyCorp currently has a “Buy” rating and a $113.00 target price on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.49 EPS, FY2017 earnings at $5.09 EPS, Q1 2018 earnings at $0.93 EPS, Q2 2018 earnings at $1.08 EPS, Q3 2018 earnings at $1.17 EPS, Q4 2018 earnings at $1.36 EPS and FY2018 earnings at $4.55 EPS.

Diamondback Energy (NASDAQ:FANG) last posted 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 the consensus estimate of $0.96 by $0.44. The firm had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm’s quarterly revenue was up 137.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share.

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Several other research analysts have also recently commented on FANG. BMO Capital Markets reaffirmed a “buy” rating and issued a $100.00 target price on shares of Diamondback Energy in a research report on Tuesday, June 27th. Scotiabank set a $95.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. BidaskClub raised Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Barclays PLC reaffirmed a “hold” rating and issued a $93.00 target price on shares of Diamondback Energy in a research report on Friday, July 7th. Finally, TheStreet cut Diamondback Energy from a “b-” rating to a “c” rating in a research 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 given a buy rating to the company. Diamondback Energy presently has an average rating of “Buy” and a consensus price target of $122.13.

Shares of Diamondback Energy (NASDAQ:FANG) opened at 102.53 on Friday. The company has a 50-day moving average of $97.13 and a 200 day moving average of $95.17. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The firm has a market capitalization of $10.06 billion, a PE ratio of 28.19 and a beta of 1.08.

Hedge funds have recently made changes to their positions in the stock. Artisan Partners Limited Partnership increased its position in Diamondback Energy by 964.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock worth $164,114,000 after purchasing an additional 1,674,336 shares during the period. Harbour Capital Advisors LLC increased its position in Diamondback Energy by 8,536.0% in the second quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock worth $8,637,000 after purchasing an additional 758,170 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in Diamondback Energy by 97.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 14,739 shares of the oil and natural gas company’s stock worth $1,529,000 after purchasing an additional 7,269 shares during the period. Bank of New York Mellon Corp increased its position in Diamondback Energy by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 831,952 shares of the oil and natural gas company’s stock worth $73,887,000 after purchasing an additional 62,224 shares during the period. Finally, Legal & General Group Plc increased its position in Diamondback Energy by 17.5% in the second quarter. Legal & General Group Plc now owns 104,274 shares of the oil and natural gas company’s stock worth $9,260,000 after purchasing an additional 15,527 shares during the period. Hedge funds and other institutional investors own 98.59% of the company’s stock.

In related news, VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the sale, the vice president now directly owns 4,950 shares in the company, valued at $438,025.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul Molnar sold 5,000 shares of Diamondback Energy stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the completion of the sale, the vice president now owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,805 shares of company stock valued at $1,239,381. 0.41% of the stock is currently owned by corporate 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.

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

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