Research Analysts Offer Predictions for Diamondback Energy Inc’s Q2 2017 Earnings (FANG)
Diamondback Energy Inc (NASDAQ:FANG) – Analysts at KeyCorp issued their Q2 2017 earnings estimates for Diamondback Energy in a research report issued on Sunday. KeyCorp analyst C. Stevens expects that the oil and natural gas company will post earnings per share of $1.19 for the quarter. KeyCorp also issued estimates for Diamondback Energy’s Q3 2017 earnings at $1.58 EPS, Q4 2017 earnings at $1.82 EPS, FY2017 earnings at $5.66 EPS, Q1 2018 earnings at $1.24 EPS, Q2 2018 earnings at $1.43 EPS, Q3 2018 earnings at $1.69 EPS, Q4 2018 earnings at $1.81 EPS and FY2018 earnings at $6.18 EPS.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.43. Diamondback Energy had a negative net margin of 82.83% and a positive return on equity of 4.26%. The company had revenue of $235.23 million for the quarter, compared to the consensus estimate of $218.62 million.
Several other analysts have also issued reports on the company. Scotiabank reissued a “buy” rating and set a $121.00 target price on shares of Diamondback Energy in a report on Thursday, May 4th. BMO Capital Markets set a $120.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Roth Capital set a $130.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Williams Capital reissued a “hold” rating and set a $120.00 target price on shares of Diamondback Energy in a report on Wednesday, May 3rd. Finally, Barclays PLC reissued an “equal weight” rating and set a $110.00 target price (down from $123.00) on shares of Diamondback Energy in a report on Saturday, April 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $115.68.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 100.65 on Wednesday. The stock has a 50 day moving average of $102.15 and a 200 day moving average of $102.43. The firm has a market cap of $9.88 billion, a P/E ratio of 2141.49 and a beta of 1.12. Diamondback Energy has a 52 week low of $82.80 and a 52 week high of $114.00.
Several institutional investors have recently modified their holdings of the company. Steadfast Capital Management LP bought a new position in shares of Diamondback Energy during the first quarter worth about $62,678,000. Achmea Investment Management B.V. bought a new position in shares of Diamondback Energy during the first quarter worth about $386,000. Cambridge Trust Co. bought a new position in shares of Diamondback Energy during the first quarter worth about $6,325,000. Point72 Asset Management L.P. increased its position in shares of Diamondback Energy by 130.4% in the first quarter. Point72 Asset Management L.P. now owns 334,100 shares of the oil and natural gas company’s stock worth $34,651,000 after buying an additional 189,100 shares during the period. Finally, TPH Asset Management LLC increased its position in shares of Diamondback Energy by 3.2% in the first quarter. TPH Asset Management LLC now owns 232,845 shares of the oil and natural gas company’s stock worth $24,149,000 after buying an additional 7,195 shares during the period. Institutional investors own 95.51% of the company’s stock.
In other news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $103.01, for a total transaction of $206,020.00. Following the sale, the vice president now directly owns 74,214 shares of the company’s stock, valued at $7,644,784.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven E. West purchased 2,400 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the purchase, the director now directly owns 2,400 shares of the company’s stock, valued at approximately $248,280. The disclosure for this purchase can be found here. Insiders have sold 9,000 shares of company stock worth $942,720 over the last three months. Insiders own 0.35% of the company’s stock.
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.
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