Analysts Offer Predictions for Diamondback Energy Inc’s FY2017 Earnings (FANG)
Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at US Capital Advisors issued their FY2017 earnings per share estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday. US Capital Advisors analyst C. Horwitz expects that the oil and natural gas company will post earnings of $5.16 per share for the year. US Capital Advisors has a “Buy” rating on the stock. US Capital Advisors also issued estimates for Diamondback Energy’s FY2018 earnings at $7.47 EPS, FY2019 earnings at $9.77 EPS, FY2020 earnings at $12.65 EPS and FY2021 earnings at $16.01 EPS.
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, beating the Zacks’ consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a net margin of 60.92% and a return on equity of 13.42%. The company’s quarterly revenue was up 137.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. TRADEMARK VIOLATION WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/10/05/analysts-offer-predictions-for-diamondback-energy-incs-fy2017-earnings-fang.html.
Several other brokerages also recently weighed in on FANG. Williams Capital reissued a “hold” rating and issued a $110.00 target price (up previously from $105.00) on shares of Diamondback Energy in a research note on Tuesday. Northland Securities reiterated a “buy” rating and set a $125.00 target price on shares of Diamondback Energy in a report on Tuesday, September 26th. Roth Capital boosted their target price on Diamondback Energy from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, BMO Capital Markets set a $100.00 price target on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $120.38.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 100.75 on Thursday. The stock has a 50 day moving average of $92.65 and a 200-day moving average of $95.17. The firm has a market capitalization of $9.89 billion, a PE ratio of 27.70 and a beta of 1.08. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $114.00.
In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Molnar sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total value of $475,200.00. Following the completion of the transaction, the vice president now directly owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,805 shares of company stock valued at $1,129,501. 0.41% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in shares of Diamondback Energy in the second quarter valued at about $102,000. Cambridge Investment Research Advisors Inc. raised its holdings in Diamondback Energy by 1.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock worth $224,000 after acquiring an additional 40 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Diamondback Energy by 46.7% during the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after acquiring an additional 700 shares in the last quarter. American International Group Inc. raised its holdings in Diamondback Energy by 5.8% during the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after acquiring an additional 126 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new stake in Diamondback Energy during the second quarter worth about $215,000.
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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