Diamondback Energy, Inc. (NASDAQ:FANG) – Research analysts at SunTrust Banks cut their Q4 2017 earnings estimates for shares of Diamondback Energy in a note issued to investors on Wednesday. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will earn $1.31 per share for the quarter, down from their prior estimate of $1.32. SunTrust Banks also issued estimates for Diamondback Energy’s FY2019 earnings at $8.87 EPS and FY2020 earnings at $11.34 EPS.

Several other analysts have also recently weighed in on FANG. BMO Capital Markets set a $100.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Mizuho reissued a “buy” rating and issued a $114.00 price target (up previously from $109.00) on shares of Diamondback Energy in a report on Thursday. Roth Capital raised their price target on shares of Diamondback Energy from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Scotiabank set a $95.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $115.31.

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Shares of Diamondback Energy (NASDAQ FANG) opened at 95.21 on Monday. The firm’s 50 day moving average is $89.98 and its 200-day moving average is $98.63. The company has a market cap of $9.34 billion, a PE ratio of 2025.74 and a beta of 1.06. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.44. The firm had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The company’s revenue was up 137.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share.

In other news, insider Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven E. West purchased 2,400 shares of the stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the acquisition, the director now directly owns 2,400 shares in the company, valued at approximately $248,280. The disclosure for this purchase can be found here. 0.41% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in FANG. BlackRock Inc. boosted 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 worth $488,205,000 after buying an additional 4,623,946 shares in the last quarter. Warburg Pincus LLC purchased a new stake in Diamondback Energy during the first quarter worth $291,598,000. FMR LLC boosted 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 worth $1,184,763,000 after buying an additional 1,661,551 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in Diamondback Energy by 8,536.0% in the second quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock worth $8,637,000 after buying an additional 758,170 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in Diamondback Energy during the first quarter worth $62,678,000. Institutional investors and hedge funds 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.

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

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