Diamondback Energy Inc (NASDAQ:FANG) – Investment analysts at Imperial Capital increased their Q3 2017 EPS estimates for Diamondback Energy in a research note issued to investors on Wednesday. Imperial Capital analyst J. Wangler now expects that the oil and natural gas company will post earnings per share of $1.35 for the quarter, up from their previous estimate of $1.31. Imperial Capital currently has a “Outperform” rating and a $110.00 target price on the stock. Imperial Capital also issued estimates for Diamondback Energy’s FY2017 earnings at $5.08 EPS and FY2018 earnings at $7.06 EPS.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 13.42% and a net margin of 60.92%. The company had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. During the same period in the prior year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 137.7% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2017/10/05/q3-2017-eps-estimates-for-diamondback-energy-inc-boosted-by-analyst-fang.html.

A number of other research analysts also recently issued reports on FANG. BidaskClub raised Diamondback Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Wolfe Research started coverage on Diamondback Energy in a research note on Thursday, June 15th. They issued an “outperform” rating and a $120.00 price objective on the stock. BMO Capital Markets reissued a “buy” rating and issued a $100.00 price objective on shares of Diamondback Energy in a research note on Tuesday, June 27th. Scotiabank set a $95.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Barclays PLC reissued a “hold” rating and issued a $93.00 price objective on shares of Diamondback Energy in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company. The stock 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 firm has a 50 day moving average price of $92.65 and a 200 day moving average price of $95.17. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The company has a market capitalization of $9.89 billion, a P/E ratio of 27.70 and a beta of 1.08.

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Diamondback Energy by 1.6% in the second quarter. FMR LLC now owns 11,609,146 shares of the oil and natural gas company’s stock valued at $1,031,009,000 after acquiring an additional 185,890 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Diamondback Energy by 8.9% in the second quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock valued at $709,428,000 after acquiring an additional 651,353 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Diamondback Energy by 20.1% in the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock valued at $677,951,000 after acquiring an additional 1,278,802 shares in the last quarter. Warburg Pincus LLC grew its holdings in shares of Diamondback Energy by 132.4% in the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after acquiring an additional 3,721,519 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Diamondback Energy by 4.9% in the second quarter. BlackRock Inc. now owns 4,936,470 shares of the oil and natural gas company’s stock valued at $438,409,000 after acquiring an additional 229,276 shares in the last quarter.

In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 650 shares of the business’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 completion of the sale, the vice president now directly owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,805 shares of company stock valued at $1,129,501 over the last three months. Corporate insiders own 0.41% 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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