Diamondback Energy Inc (NASDAQ:FANG) – Equities researchers at Seaport Global Securities increased their Q4 2017 EPS estimates for shares of Diamondback Energy in a research report issued on Thursday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings of $1.71 per share for the quarter, up from their previous forecast of $1.63. Seaport Global Securities also issued estimates for Diamondback Energy’s Q1 2018 earnings at $1.19 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.50 EPS, Q4 2018 earnings at $1.61 EPS and FY2018 earnings at $5.64 EPS.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The firm had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue was up 112.0% compared to the same quarter last year.

A number of other brokerages also recently weighed in on FANG. BMO Capital Markets set a $110.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, October 10th. Scotiabank reaffirmed a “buy” rating and set a $118.00 price target on shares of Diamondback Energy in a report on Wednesday, November 22nd. Morgan Stanley upped their price target on shares of Diamondback Energy from $118.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $138.00 price target on shares of Diamondback Energy in a report on Tuesday, January 9th. Finally, Citigroup initiated coverage on shares of Diamondback Energy in a report on Friday, December 1st. They set a “buy” rating and a $130.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $125.42.

Shares of Diamondback Energy (NASDAQ FANG) opened at $130.14 on Friday. Diamondback Energy has a twelve month low of $82.77 and a twelve month high of $132.07. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22. The firm has a market cap of $12,770.00, a P/E ratio of 31.51, a PEG ratio of 0.74 and a beta of 1.08.

In other news, CEO Travis D. Stice sold 35,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $4,375,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $102.44, for a total transaction of $204,880.00. The disclosure for this sale can be found here. In the last three months, insiders sold 78,400 shares of company stock valued at $9,361,210. 0.41% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Viking Fund Management LLC raised its stake in shares of Diamondback Energy by 6.3% during the third quarter. Viking Fund Management LLC now owns 220,000 shares of the oil and natural gas company’s stock valued at $21,551,000 after acquiring an additional 13,000 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Diamondback Energy by 964.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock valued at $164,114,000 after acquiring an additional 1,674,336 shares during the last quarter. IBM Retirement Fund acquired a new stake in shares of Diamondback Energy during the third quarter worth $960,000. Sterling Capital Management LLC increased its position in shares of Diamondback Energy by 21.0% during the third quarter. Sterling Capital Management LLC now owns 37,872 shares of the oil and natural gas company’s stock worth $3,710,000 after buying an additional 6,575 shares during the period. Finally, Gluskin Sheff & Assoc Inc. increased its position in shares of Diamondback Energy by 221.5% during the third quarter. Gluskin Sheff & Assoc Inc. now owns 13,150 shares of the oil and natural gas company’s stock worth $1,288,000 after buying an additional 9,060 shares during the period.

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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.

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

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