Capital One Financial Corporation Analysts Raise Earnings Estimates for Diamondback Energy, Inc. (FANG)
Diamondback Energy, Inc. (NASDAQ:FANG) – Equities researchers at Capital One Financial Corporation boosted their FY2017 earnings per share (EPS) estimates for shares of Diamondback Energy in a report released on Thursday. Capital One Financial Corporation analyst R. Tullis now anticipates that the oil and natural gas company will post earnings of $4.70 per share for the year, up from their previous forecast of $4.43.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s revenue was up 137.7% compared to the same quarter last year.
A number of other research firms have also issued reports on FANG. Stifel Nicolaus began coverage on Diamondback Energy in a report on Wednesday, April 12th. They set a “buy” rating and a $123.00 price target on the stock. Barclays PLC reissued an “equal weight” rating and set a $110.00 price target (down previously from $123.00) on shares of Diamondback Energy in a report on Saturday, April 22nd. Scotiabank reissued a “buy” rating and set a $121.00 price target on shares of Diamondback Energy in a report on Thursday, May 4th. Piper Jaffray Companies reissued an “overweight” rating and set a $141.00 price target on shares of Diamondback Energy in a report on Thursday, May 25th. Finally, Williams Capital reissued a “hold” rating and set a $120.00 price target on shares of Diamondback Energy in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $115.31.
Diamondback Energy (NASDAQ FANG) opened at 95.21 on Monday. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The firm has a market cap of $9.34 billion, a PE ratio of 2025.74 and a beta of 1.06. The company has a 50-day moving average price of $89.98 and a 200-day moving average price of $98.63.
In related news, Director Mark Lawrence Plaumann sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $101.52, for a total transaction of $101,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven E. West acquired 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average price of $103.45 per share, with a total value of $248,280.00. Following the completion of the transaction, the director now directly owns 2,400 shares in the company, valued at $248,280. The disclosure for this purchase can be found here. Insiders own 0.41% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of FANG. Karp Capital Management Corp bought a new position in shares of Diamondback Energy during the first quarter valued at about $2,207,000. Investment House LLC increased 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased 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 in the last quarter. Stevens Capital Management LP bought a new position in shares of Diamondback Energy during the first quarter valued at about $201,000. Finally, Nicholas Investment Partners LP increased its position in shares of Diamondback Energy by 39.4% in the first quarter. Nicholas Investment Partners LP now owns 34,856 shares of the oil and natural gas company’s stock valued at $3,615,000 after buying an additional 9,849 shares in the last quarter. Hedge funds and other institutional investors own 97.20% of the company’s stock.
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.
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