Diamondback Energy, Inc. (FANG) Forecasted to Earn Q2 2017 Earnings of $1.08 Per Share
Diamondback Energy, Inc. (NASDAQ:FANG) – Equities research analysts at Imperial Capital issued their Q2 2017 earnings per share (EPS) estimates for Diamondback Energy in a report issued on Tuesday. Imperial Capital analyst J. Wangler forecasts that the oil and natural gas company will post earnings of $1.08 per share for the quarter. Imperial Capital currently has a “Outperform” rating and a $110.00 target price on the stock. Imperial Capital also issued estimates for Diamondback Energy’s Q3 2017 earnings at $1.16 EPS, Q4 2017 earnings at $1.31 EPS, FY2017 earnings at $4.60 EPS and FY2018 earnings at $6.77 EPS.
A number of other research firms have also recently commented on FANG. BidaskClub upgraded Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Northland Securities set a $125.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Monday. Credit Suisse Group restated an “outperform” rating and issued a $151.00 price objective on shares of Diamondback Energy in a research report on Friday, June 2nd. Stifel Nicolaus began coverage on Diamondback Energy in a research report on Wednesday, April 12th. They issued a “buy” rating and a $123.00 price objective for the company. Finally, Barclays PLC restated a “hold” rating and issued a $93.00 price objective on shares of Diamondback Energy in a research report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $116.12.
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Diamondback Energy (NASDAQ FANG) opened at 93.93 on Thursday. The company has a market capitalization of $9.22 billion, a P/E ratio of 1998.51 and a beta of 1.05. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00. The firm has a 50-day moving average price of $88.98 and a 200 day moving average price of $99.16.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.43. The company had revenue of $235.23 million during the quarter, compared to analyst estimates of $218.62 million. Diamondback Energy had a net margin of 0.62% and a return on equity of 6.51%.
Several institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Diamondback Energy by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock valued at $224,000 after buying an additional 40 shares during the period. New York State Teachers Retirement System raised its position in shares of Diamondback Energy by 1.5% in the fourth quarter. New York State Teachers Retirement System now owns 6,900 shares of the oil and natural gas company’s stock valued at $697,000 after buying an additional 100 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in shares of Diamondback Energy by 2.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,650 shares of the oil and natural gas company’s stock valued at $379,000 after buying an additional 100 shares during the period. American International Group Inc. raised its position in shares of Diamondback Energy by 5.8% in the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock valued at $239,000 after buying an additional 126 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock valued at $100,000 after buying an additional 201 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.
In other Diamondback Energy news, Director Steven E. West purchased 2,400 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $103.45 per share, with a total value of $248,280.00. Following the purchase, the director now directly owns 2,400 shares in the company, valued at approximately $248,280. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The disclosure for this sale can be found here. Insiders own 0.41% 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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