Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Imperial Capital cut their Q4 2017 earnings per share estimates for Diamondback Energy in a research report issued on Wednesday. Imperial Capital analyst J. Wangler now expects that the oil and natural gas company will post earnings of $1.44 per share for the quarter, down from their previous estimate of $1.45. Imperial Capital has a “Outperform” rating and a $110.00 price objective on the stock.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The business had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. During the same quarter last year, the firm earned $0.26 EPS. Diamondback Energy’s quarterly revenue was up 137.7% compared to the same quarter last year.

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Other analysts also recently issued research reports about the stock. Bank of America Corporation initiated coverage on shares of Diamondback Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $115.00 target price for the company. Scotiabank set a $95.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets reissued a “buy” rating and set a $100.00 target price on shares of Diamondback Energy in a research report on Tuesday, June 27th. Northland Securities set a $125.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, Roth Capital increased their target price on shares of Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $120.38.

Diamondback Energy (NASDAQ:FANG) opened at 99.06 on Friday. The company’s 50-day moving average is $92.98 and its 200 day moving average is $95.20. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 27.24 and a beta of 1.08.

In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 42,563 shares in the company, valued at $4,045,187.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,805 shares of company stock worth $1,129,501. Company insiders own 0.41% of the company’s stock.

A number of large investors have recently modified their holdings of the business. FMR LLC lifted its stake in Diamondback Energy by 1.6% during the 2nd 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. lifted its stake in Diamondback Energy by 8.9% during the 2nd 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. lifted its stake in Diamondback Energy by 20.1% during the 2nd 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 lifted its stake in Diamondback Energy by 132.4% during the 2nd 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. lifted its stake in Diamondback Energy by 4.9% during the 2nd 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.

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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