FY2017 Earnings Estimate for Diamondback Energy, Inc. Issued By KeyCorp (FANG)
Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at KeyCorp reduced their FY2017 earnings estimates for Diamondback Energy in a research note issued on Tuesday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will earn $4.59 per share for the year, down from their previous estimate of $4.93. KeyCorp currently has a “Overweight” rating and a $125.00 price target on the stock.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The business had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue was up 112.0% on a year-over-year basis.
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Shares of Diamondback Energy (NASDAQ:FANG) opened at $109.25 on Thursday. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $114.93. The stock has a market cap of $10,714.96, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 0.80 and a beta of 1.10.
In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction dated 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 directly owns 4,950 shares in the company, valued at $438,025.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Teresa L. Dick sold 5,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $111.79, for a total transaction of $558,950.00. Following the sale, the chief financial officer now owns 31,760 shares in the company, valued at $3,550,450.40. The disclosure for this sale can be found here. Insiders have sold 23,805 shares of company stock worth $2,446,531 over the last quarter. Corporate insiders own 0.41% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FANG. Johnson Financial Group Inc. acquired a new stake in Diamondback Energy during the second quarter worth about $102,000. Cubist Systematic Strategies LLC grew its stake in Diamondback Energy by 46.7% during the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after buying an additional 700 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $206,000. Commerce Bank acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $208,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at approximately $215,000.
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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