Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at SunTrust Banks raised their Q3 2017 earnings estimates for Diamondback Energy in a research note issued on Monday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will post earnings of $1.23 per share for the quarter, up from their previous estimate of $1.15. SunTrust Banks also issued estimates for Diamondback Energy’s FY2017 earnings at $4.91 EPS.

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, beating analysts’ consensus estimates of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. During the same period last year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up 137.7% compared to the same quarter last year.

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A number of other analysts also recently weighed in on FANG. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Diamondback Energy in a research report on Tuesday. Scotiabank set a $95.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Mizuho reissued a “buy” rating and set a $114.00 price objective (up from $109.00) on shares of Diamondback Energy in a research report on Thursday, August 3rd. BMO Capital Markets set a $110.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, October 10th. Finally, Williams Capital set a $114.00 price objective on shares of Diamondback Energy and gave the company a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and an average price target of $121.73.

Diamondback Energy (NASDAQ FANG) opened at 102.60 on Tuesday. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 28.21 and a beta of 1.08. The firm has a 50 day moving average of $95.40 and a 200-day moving average of $95.09.

In other news, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the 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 transaction, the vice president now owns 4,950 shares in the company, valued at approximately $438,025.50. The disclosure for this sale can be found here. Insiders sold a total of 11,805 shares of company stock worth $1,129,501 in the last quarter. Company insiders own 0.41% of the company’s stock.

Large investors have recently modified their holdings of the company. Prudential Financial Inc. raised its stake in Diamondback Energy by 8.4% during the 1st quarter. Prudential Financial Inc. now owns 4,890 shares of the oil and natural gas company’s stock worth $507,000 after acquiring an additional 380 shares during the period. American International Group Inc. raised its stake in Diamondback Energy by 5.8% during the 1st quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after acquiring an additional 126 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Diamondback Energy by 71.7% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 8,441 shares of the oil and natural gas company’s stock worth $874,000 after acquiring an additional 3,525 shares during the period. Alliancebernstein L.P. raised its stake in Diamondback Energy by 9.7% during the 1st quarter. Alliancebernstein L.P. now owns 57,230 shares of the oil and natural gas company’s stock worth $5,936,000 after acquiring an additional 5,053 shares during the period. Finally, Credit Agricole S A raised its stake in Diamondback Energy by 66.9% during the 1st quarter. Credit Agricole S A now owns 12,183 shares of the oil and natural gas company’s stock worth $1,263,000 after acquiring an additional 4,883 shares during the period. Hedge funds and other institutional investors own 98.59% 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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