Williams Capital Weighs in on Diamondback Energy Inc.’s FY2017 Earnings (FANG)
Diamondback Energy Inc. (NASDAQ:FANG) – Stock analysts at Williams Capital upped their FY2017 earnings per share (EPS) estimates for shares of Diamondback Energy in a report released on Monday. Williams Capital analyst G. Sorbara now anticipates that the firm will post earnings of $2.65 per share for the year, up from their previous estimate of $2.64. Williams Capital currently has a “Hold” rating and a $112.00 target price on the stock.
A number of other equities analysts have also commented on FANG. SunTrust Banks Inc. raised their price objective on shares of Diamondback Energy from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. KLR Group reaffirmed a “buy” rating and issued a $122.00 price objective (up previously from $103.00) on shares of Diamondback Energy in a research note on Monday, July 18th. Mizuho reissued a “buy” rating and set a $105.00 target price on shares of Diamondback Energy in a research note on Monday. JPMorgan Chase & Co. reissued a “buy” rating on shares of Diamondback Energy in a research note on Monday, July 18th. Finally, BMO Capital Markets reissued a “buy” rating and set a $95.00 target price on shares of Diamondback Energy in a research note on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $100.50.
Diamondback Energy (NASDAQ:FANG) traded down 0.55% during trading on Tuesday, reaching $99.92. 539,617 shares of the company’s stock were exchanged. Diamondback Energy has a 1-year low of $55.48 and a 1-year high of $106.84. The company’s market capitalization is $7.80 billion. The company’s 50-day moving average is $94.99 and its 200-day moving average is $90.03.
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Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.10. The company earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS.
In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $85.34, for a total value of $170,680.00. Following the transaction, the vice president now directly owns 67,914 shares in the company, valued at $5,795,780.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Teresa L. Dick sold 1,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $95.71, for a total transaction of $95,710.00. Following the completion of the transaction, the chief financial officer now owns 25,750 shares in the company, valued at $2,464,532.50. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in FANG. Prudential Financial Inc. raised its position in Diamondback Energy by 113.6% in the first quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock worth $565,000 after buying an additional 3,898 shares during the period. BlackRock Inc. raised its position in Diamondback Energy by 309.5% in the first quarter. BlackRock Inc. now owns 8,366 shares of the company’s stock worth $646,000 after buying an additional 6,323 shares during the period. BlackRock Group LTD raised its position in Diamondback Energy by 20.5% in the first quarter. BlackRock Group LTD now owns 130,421 shares of the company’s stock worth $10,064,000 after buying an additional 22,155 shares during the period. BlackRock Fund Advisors raised its position in Diamondback Energy by 3.3% in the first quarter. BlackRock Fund Advisors now owns 798,166 shares of the company’s stock worth $61,602,000 after buying an additional 25,366 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in Diamondback Energy by 6.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,773,392 shares of the company’s stock worth $136,870,000 after buying an additional 101,344 shares during the period. Hedge funds and other institutional investors own 99.74% of the company’s stock.
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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