Q3 2016 EPS Estimates for Diamondback Energy Inc. (FANG) Raised by Analyst
Diamondback Energy Inc. (NASDAQ:FANG) – Investment analysts at Roth Capital increased their Q3 2016 EPS estimates for shares of Diamondback Energy in a research report issued on Tuesday. Roth Capital analyst J. White now anticipates that the firm will earn $0.27 per share for the quarter, up from their prior estimate of $0.20. Roth Capital currently has a “Buy” rating and a $104.00 price target on the stock. Roth Capital also issued estimates for Diamondback Energy’s Q1 2017 earnings at $0.63 EPS, Q2 2017 earnings at $0.66 EPS, Q3 2017 earnings at $0.90 EPS and Q4 2017 earnings at $1.01 EPS.
Several other research analysts have also issued reports on FANG. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Wednesday, June 29th. Simmons started coverage on shares of Diamondback Energy in a research note on Monday, July 11th. They issued an “overweight” rating and a $101.00 price target for the company. Piper Jaffray Cos. started coverage on shares of Diamondback Energy in a research note on Monday, July 11th. They issued an “overweight” rating and a $101.00 price target for the company. Bank of America Corp. started coverage on shares of Diamondback Energy in a research note on Wednesday, July 13th. They issued a “neutral” rating and a $106.00 price target for the company. Finally, Wunderlich increased their price target on shares of Diamondback Energy from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 14th. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $100.50.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 4.41% during trading on Wednesday, reaching $104.11. 690,312 shares of the company were exchanged. Diamondback Energy has a one year low of $55.48 and a one year high of $106.84. The stock has a 50-day moving average price of $95.06 and a 200-day moving average price of $90.19. The stock’s market capitalization is $8.12 billion.
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Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The business earned $112.48 million during the quarter, compared to the consensus estimate of $112.47 million. During the same quarter last year, the firm earned $0.41 earnings per share. Diamondback Energy’s quarterly revenue was down 5.5% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock worth $773,449,000 after buying an additional 665,001 shares during the period. Wellington Management Group LLP boosted its position in Diamondback Energy by 0.4% in the first quarter. Wellington Management Group LLP now owns 7,512,803 shares of the company’s stock worth $579,839,000 after buying an additional 26,247 shares during the period. Boston Partners boosted its position in Diamondback Energy by 4.4% in the second quarter. Boston Partners now owns 7,138,560 shares of the company’s stock worth $651,109,000 after buying an additional 303,405 shares during the period. Vanguard Group Inc. boosted its position in Diamondback Energy by 2.1% in the second quarter. Vanguard Group Inc. now owns 5,151,072 shares of the company’s stock worth $469,829,000 after buying an additional 106,359 shares during the period. Finally, Winslow Capital Management LLC purchased a new position in Diamondback Energy during the second quarter worth $255,580,000. Institutional investors and hedge funds own 99.74% of the company’s stock.
In other Diamondback Energy news, VP Elizabeth Moses sold 2,000 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $88.66, for a total transaction of $177,320.00. Following the transaction, the vice president now owns 11,709 shares in the company, valued at $1,038,119.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $98.00, for a total transaction of $2,940,000.00. The disclosure for this sale can be found here. 0.52% 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 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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