Diamondback Energy, Inc. (NASDAQ:FANG) – Equities researchers at Seaport Global Securities raised their Q3 2017 earnings estimates for shares of Diamondback Energy in a research note issued to investors on Friday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings per share of $1.24 for the quarter, up from their prior estimate of $1.13. Seaport Global Securities also issued estimates for Diamondback Energy’s FY2017 earnings at $4.83 EPS, Q1 2018 earnings at $0.63 EPS and FY2018 earnings at $2.72 EPS.

Other equities research analysts have also issued research reports about the stock. Roth Capital lifted their target price on shares of Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Northland Securities set a $125.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday, July 17th. Bank of America Corporation assumed coverage on shares of Diamondback Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $115.00 price target for the company. Scotiabank set a $95.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, BMO Capital Markets reissued a “buy” rating and set a $100.00 price target on shares of Diamondback Energy in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one 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 $122.13.

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Diamondback Energy (NASDAQ FANG) opened at 102.53 on Monday. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The stock’s 50 day moving average is $97.13 and its 200 day moving average is $95.17. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 28.19 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating 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 firm had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 137.7% compared to the same quarter last year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Diamondback Energy by 1.6% during the second 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 purchasing an additional 185,890 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Diamondback Energy by 8.9% during the second 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 purchasing an additional 651,353 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Diamondback Energy by 20.1% during the second 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 purchasing an additional 1,278,802 shares during the last quarter. Warburg Pincus LLC raised its holdings in shares of Diamondback Energy by 132.4% during the second 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 purchasing an additional 3,721,519 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Diamondback Energy by 4.9% during the second quarter. BlackRock Inc. now owns 4,936,470 shares of the oil and natural gas company’s stock valued at $438,409,000 after purchasing an additional 229,276 shares during the last quarter. 98.59% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Hof Matthew Kaes Van’t sold 650 shares of the business’s 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 completion of the transaction, the vice president now directly owns 4,950 shares of the company’s stock, valued at $438,025.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Molnar sold 5,000 shares of the business’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 transaction of $475,200.00. Following the transaction, the vice president now directly owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The disclosure for this sale can be found here. Insiders have sold 12,805 shares of company stock valued at $1,239,381 over the last three months. 0.41% of the stock is owned by corporate insiders.

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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