Diamondback Energy Inc (NASDAQ:FANG) – Seaport Global Securities raised their Q4 2017 earnings per share (EPS) estimates for Diamondback Energy in a research note issued on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will earn $1.31 per share for the quarter, up from their previous estimate of $1.29. Seaport Global Securities also issued estimates for Diamondback Energy’s Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.72 EPS and Q4 2018 earnings at $0.78 EPS.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the consensus estimate of $0.96 by $0.44. Diamondback Energy had a net margin of 60.92% and a return on equity of 13.42%. The business had revenue of $267.40 million during the quarter, compared to analyst estimates of $258.75 million. During the same quarter in the previous year, the business posted $0.26 EPS. The company’s quarterly revenue was up 137.7% compared to the same quarter last year.

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Several other analysts have also recently issued reports on FANG. BidaskClub raised shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Wolfe Research initiated coverage on shares of Diamondback Energy in a research report on Thursday, June 15th. They set an “outperform” rating and a $120.00 price target on the stock. BMO Capital Markets reissued a “buy” rating and set a $100.00 price target on shares of Diamondback Energy in a research report on Tuesday, June 27th. Scotiabank set a $95.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. Finally, Barclays PLC reissued a “hold” rating and set a $93.00 price target on shares of Diamondback Energy in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $120.38.

Shares of Diamondback Energy (NASDAQ:FANG) opened at 100.75 on Thursday. The company has a market cap of $9.89 billion, a price-to-earnings 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. The stock has a 50 day moving average of $92.65 and a 200 day moving average of $95.17.

A number of hedge funds have recently added to or reduced their stakes in the business. Fulton Bank N.A. acquired a new stake in Diamondback Energy during the third quarter worth approximately $305,000. Benefit Street Partners LLC acquired a new stake in Diamondback Energy during the second quarter worth approximately $3,552,000. Sentry Investment Management LLC acquired a new stake in Diamondback Energy during the second quarter worth approximately $215,000. Public Employees Retirement System of Ohio raised its holdings in Diamondback Energy by 4.6% during the second quarter. Public Employees Retirement System of Ohio now owns 101,673 shares of the oil and natural gas company’s stock worth $9,030,000 after purchasing an additional 4,506 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC raised its holdings in Diamondback Energy by 1.1% during the second quarter. Energy Opportunities Capital Management LLC now owns 16,000 shares of the oil and natural gas company’s stock worth $1,421,000 after purchasing an additional 170 shares in the last quarter.

In other Diamondback Energy news, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total transaction of $475,200.00. Following the sale, the vice president now owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total transaction of $57,518.50. Following the sale, the vice president now directly owns 4,950 shares in the company, valued at approximately $438,025.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,805 shares of company stock worth $1,129,501. 0.41% of the stock is owned by corporate insiders.

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.

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

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