Jefferies Group Comments on Diamondback Energy, Inc.’s Q3 2017 Earnings (FANG)
Diamondback Energy, Inc. (NASDAQ:FANG) – Jefferies Group issued their Q3 2017 earnings per share (EPS) estimates for Diamondback Energy in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Lear expects that the oil and natural gas company will post earnings per share of $1.34 for the quarter. Jefferies Group has a “Buy” rating and a $124.00 price target on the stock. Jefferies Group also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.65 EPS, Q1 2018 earnings at $1.22 EPS, Q2 2018 earnings at $1.35 EPS, Q3 2018 earnings at $1.63 EPS, Q4 2018 earnings at $1.75 EPS, FY2018 earnings at $5.95 EPS, Q1 2019 earnings at $2.02 EPS, Q2 2019 earnings at $2.19 EPS, Q3 2019 earnings at $2.35 EPS and FY2019 earnings at $9.05 EPS.
Other research analysts have also recently issued reports about the company. Scotiabank set a $95.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $100.00 price objective on shares of Diamondback Energy in a research report on Tuesday, June 27th. Northland Securities set a $125.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Monday, July 17th. Bank of America Corporation started coverage on Diamondback Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $115.00 price objective on the stock. Finally, Roth Capital lifted their price objective on Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the stock. Diamondback Energy has an average rating of “Buy” and an average price target of $121.09.
Shares of Diamondback Energy (NASDAQ FANG) opened at 101.52 on Thursday. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The stock has a 50 day moving average of $94.51 and a 200-day moving average of $95.13. The stock has a market capitalization of $9.96 billion, a P/E ratio of 27.91 and a beta of 1.08.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.44. The company had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm’s quarterly revenue was up 137.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS.
A number of large investors have recently added to or reduced their stakes in FANG. Johnson Financial Group Inc. bought a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $102,000. Cubist Systematic Strategies LLC increased its position 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 valued at $195,000 after purchasing an additional 700 shares during the last quarter. Sentry Investment Management LLC bought a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $215,000. BB&T Securities LLC bought a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $217,000. Finally, Cambridge Investment Research Advisors Inc. increased its position 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 valued at $224,000 after purchasing an additional 40 shares during the last quarter.
In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy 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 SEC, which is available at this hyperlink. Also, VP Paul Molnar sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the completion of the sale, the vice president now directly 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 ninety days, insiders sold 11,805 shares of company stock worth $1,129,501. Corporate 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.
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