Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at Capital One Financial Corporation decreased their Q3 2017 earnings per share (EPS) estimates for Diamondback Energy in a research report issued on Tuesday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and natural gas company will post earnings per share of $1.38 for the quarter, down from their previous forecast of $1.39. Capital One Financial Corporation also issued estimates for Diamondback Energy’s FY2017 earnings at $5.13 EPS.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly 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 analyst estimates of $258.75 million. Diamondback Energy had a net margin of 60.92% and a return on equity of 13.42%. Diamondback Energy’s quarterly revenue was up 137.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share.

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Several other equities research analysts have also recently issued reports on the stock. US Capital Advisors reissued a “buy” rating on shares of Diamondback Energy in a research report on Monday. Williams Capital reiterated a “hold” rating and set a $110.00 price objective (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 price objective on shares of Diamondback Energy in a research note on Tuesday, September 26th. Piper Jaffray Companies reiterated a “buy” rating and set a $112.00 price objective on shares of Diamondback Energy in a research note on Thursday, September 14th. Finally, KeyCorp reiterated a “buy” rating and set a $113.00 price objective on shares of Diamondback Energy in a research note on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $120.38.

Diamondback Energy (FANG) opened at 100.75 on Thursday. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 27.70 and a beta of 1.08. The firm 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 bought and sold shares of FANG. Johnson Financial Group Inc. bought a new position in Diamondback Energy in the second quarter valued at approximately $102,000. Cubist Systematic Strategies LLC boosted its stake in shares of Diamondback Energy by 46.7% during the 2nd 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 during the period. Sentry Investment Management LLC bought a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $215,000. BB&T Securities LLC bought a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $217,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Diamondback Energy by 1.9% during the 1st 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 during the period.

In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $475,200.00. Following the completion of the transaction, the vice president now owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,805 shares of company stock valued at $1,129,501. 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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