Diamondback Energy, Inc. (NASDAQ:FANG) – Research analysts at Seaport Global Securities lifted their Q2 2017 earnings estimates for Diamondback Energy in a report released on Wednesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will post earnings per share of $0.95 for the quarter, up from their previous estimate of $0.73. Seaport Global Securities also issued estimates for Diamondback Energy’s FY2017 earnings at $4.21 EPS, Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.65 EPS and FY2018 earnings at $2.14 EPS.

FANG has been the topic of a number of other reports. Credit Suisse Group reissued an “outperform” rating and issued a $151.00 price target on shares of Diamondback Energy in a research report on Friday, June 2nd. Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. BidaskClub cut Diamondback Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday. TheStreet raised Diamondback Energy from a “c” rating to a “b-” rating in a research report on Friday, March 3rd. Finally, Scotiabank reaffirmed a “buy” rating and issued a $121.00 price objective on shares of Diamondback Energy in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $118.43.

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

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Diamondback Energy (FANG) opened at 85.98 on Friday. Diamondback Energy has a 12-month low of $82.80 and a 12-month high of $114.00. The stock has a 50 day moving average price of $95.79 and a 200-day moving average price of $101.38. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 1829.36 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.43. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%. The company had revenue of $235.23 million for the quarter, compared to analyst estimates of $218.62 million.

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven E. West bought 2,400 shares of the stock in a transaction on Wednesday, May 17th. The stock was purchased at an average price of $103.45 per share, with a total value of $248,280.00. Following the completion of the purchase, the director now owns 2,400 shares of the company’s stock, valued at $248,280. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Diamondback Energy by 5,554.4% in the first quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock valued at $488,205,000 after buying an additional 4,623,946 shares during the last quarter. Warburg Pincus LLC bought a new stake in Diamondback Energy during the first quarter valued at approximately $291,598,000. FMR LLC increased its stake in Diamondback Energy by 17.0% in the first quarter. FMR LLC now owns 11,423,256 shares of the oil and natural gas company’s stock valued at $1,184,763,000 after buying an additional 1,661,551 shares during the last quarter. Norges Bank bought a new stake in Diamondback Energy during the fourth quarter valued at approximately $65,649,000. Finally, Steadfast Capital Management LP bought a new stake in Diamondback Energy during the first quarter valued at approximately $62,678,000. Institutional investors own 98.30% 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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