Q3 2016 EPS Estimates for Diamondback Energy Inc. (FANG) Lifted by Analyst
Diamondback Energy Inc. (NASDAQ:FANG) – Research analysts at Williams Capital increased their Q3 2016 earnings estimates for shares of Diamondback Energy in a report released on Monday. Williams Capital analyst G. Sorbara now forecasts that the brokerage will post earnings per share of $0.28 for the quarter, up from their prior estimate of $0.24. Williams Capital currently has a “Hold” rating and a $112.00 target price on the stock. Williams Capital also issued estimates for Diamondback Energy’s Q4 2016 earnings at $0.42 EPS, FY2016 earnings at $1.01 EPS, Q1 2017 earnings at $0.51 EPS, Q2 2017 earnings at $0.61 EPS, Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.81 EPS, FY2017 earnings at $2.64 EPS, Q3 2018 earnings at $1.27 EPS and FY2018 earnings at $4.81 EPS.
Several other research analysts also recently weighed in on the company. KLR Group increased their price target on Diamondback Energy from $126.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday. Wunderlich increased their price target on Diamondback Energy from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho assumed coverage on Diamondback Energy in a research note on Wednesday, October 5th. They set a “buy” rating and a $105.00 price target for the company. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 30th. Finally, Nomura reiterated a “buy” rating and set a $17.00 price target on shares of Diamondback Energy in a research note on Monday, September 26th. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $96.93.
Shares of Diamondback Energy (NASDAQ:FANG) traded down 0.0543% on Tuesday, reaching $105.1529. The company’s stock had a trading volume of 832,450 shares. The firm’s 50-day moving average price is $94.07 and its 200-day moving average price is $89.20. The stock’s market cap is $8.21 billion. Diamondback Energy has a 12 month low of $55.48 and a 12 month high of $106.84.
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Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The firm earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share.
In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $2,940,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Teresa L. Dick sold 1,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $95.71, for a total value of $95,710.00. Following the completion of the sale, the chief financial officer now directly owns 25,750 shares in the company, valued at $2,464,532.50. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Winslow Capital Management LLC bought a new stake in Diamondback Energy during the second quarter valued at approximately $255,580,000. FMR LLC increased its stake in Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock valued at $773,449,000 after buying an additional 665,001 shares during the period. Fiera Capital Corp bought a new stake in Diamondback Energy during the second quarter valued at approximately $41,604,000. TimesSquare Capital Management LLC bought a new stake in Diamondback Energy during the first quarter valued at approximately $29,799,000. Finally, Magnetar Financial LLC increased its stake in Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock valued at $57,777,000 after buying an additional 348,600 shares during the period. 99.74% of the stock is currently owned by institutional investors and hedge funds.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
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