Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Seaport Global Securities increased their FY2017 earnings estimates for Diamondback Energy in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings per share of $4.92 for the year, up from their previous estimate of $4.20.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 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 return on equity of 6.51% and a net margin of 0.62%. ILLEGAL ACTIVITY WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/07/27/diamondback-energy-inc-to-post-fy2017-earnings-of-4-92-per-share-seaport-global-securities-forecasts-fang.html.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating on shares of Diamondback Energy in a research note on Friday, May 26th. Scotiabank reiterated a “buy” rating and issued a $121.00 target price on shares of Diamondback Energy in a research note on Thursday, May 4th. BMO Capital Markets set a $120.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Roth Capital set a $130.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Thursday, March 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $115.89.

Shares of Diamondback Energy (FANG) traded up 0.42% during midday trading on Thursday, reaching $96.89. The company’s stock had a trading volume of 48,756 shares. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $114.00. The stock has a 50-day moving average price of $89.20 and a 200 day moving average price of $98.84. The stock has a market capitalization of $9.51 billion, a PE ratio of 2061.49 and a beta of 1.05.

Several institutional investors have recently made changes to their positions in FANG. UBS Asset Management Americas Inc. raised its position in shares of Diamondback Energy by 262.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 558,659 shares of the oil and natural gas company’s stock valued at $56,456,000 after buying an additional 404,345 shares during the period. Karp Capital Management Corp purchased a new position in shares of Diamondback Energy during the first quarter valued at about $2,207,000. Investment House LLC raised its position in shares of Diamondback Energy by 228.2% in the first quarter. Investment House LLC now owns 9,845 shares of the oil and natural gas company’s stock valued at $1,021,000 after buying an additional 6,845 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Diamondback Energy by 5.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 268,944 shares of the oil and natural gas company’s stock valued at $27,894,000 after buying an additional 14,331 shares during the period. Finally, Stevens Capital Management LP purchased a new position in shares of Diamondback Energy during the first quarter valued at about $201,000. 98.30% of the stock is owned by institutional investors.

In other news, Director Steven E. West purchased 2,400 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $103.45 per share, with a total value of $248,280.00. Following the acquisition, the director now directly owns 2,400 shares of the company’s stock, valued at $248,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total transaction of $101,520.00. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

About Diamondback Energy

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.

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

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