Diamondback Energy, Inc. (NASDAQ:FANG) – Research analysts at Seaport Global Securities raised their Q3 2017 EPS estimates for shares of Diamondback Energy in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings per share of $1.13 for the quarter, up from their prior estimate of $1.11. Seaport Global Securities also issued estimates for Diamondback Energy’s FY2017 earnings at $4.74 EPS and FY2018 earnings at $2.70 EPS.

A number of other research firms also recently issued reports on FANG. BidaskClub raised shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Roth Capital raised their price objective 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. BMO Capital Markets set a $100.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, August 1st. Northland Securities set a $125.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Barclays PLC reissued a “hold” rating and issued a $93.00 price objective on shares of Diamondback Energy in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $120.38.

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Diamondback Energy (NASDAQ:FANG) opened at 99.75 on Friday. The firm has a 50-day moving average of $92.98 and a 200-day moving average of $95.20. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00. The stock has a market capitalization of $9.79 billion, a PE ratio of 27.43 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 quarterly revenue was up 137.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share.

Several institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its position in Diamondback Energy by 11.3% in the first quarter. Parametric Portfolio Associates LLC now owns 87,494 shares of the oil and natural gas company’s stock worth $9,074,000 after purchasing an additional 8,916 shares during the last quarter. Prudential Financial Inc. increased its position in Diamondback Energy by 8.4% in the first quarter. Prudential Financial Inc. now owns 4,890 shares of the oil and natural gas company’s stock worth $507,000 after purchasing an additional 380 shares during the last quarter. Schroder Investment Management Group bought a new stake in Diamondback Energy in the first quarter worth $452,000. American International Group Inc. increased its position in Diamondback Energy by 5.8% in 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 purchasing an additional 126 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its position in Diamondback Energy by 71.7% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 8,441 shares of the oil and natural gas company’s stock worth $874,000 after purchasing an additional 3,525 shares during the last quarter.

In other news, VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total transaction of $57,518.50. Following the sale, the vice president now owns 4,950 shares in the company, valued at $438,025.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Paul Molnar sold 5,000 shares of Diamondback Energy 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 in the company, valued at approximately $4,045,187.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,805 shares of company stock worth $1,129,501. Company insiders own 0.41% of the company’s stock.

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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