FY2017 EPS Estimates for Diamondback Energy Inc (FANG) Boosted by KeyCorp
Diamondback Energy Inc (NASDAQ:FANG) – Analysts at KeyCorp upped their FY2017 earnings per share (EPS) estimates for Diamondback Energy in a research note issued to investors on Tuesday. KeyCorp analyst C. Stevens now expects that the oil and natural gas company will post earnings of $4.74 per share for the year, up from their previous forecast of $4.59. KeyCorp currently has a “Overweight” rating and a $125.00 target price on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.11 EPS, Q1 2018 earnings at $1.27 EPS, Q2 2018 earnings at $1.35 EPS, Q3 2018 earnings at $1.43 EPS, FY2018 earnings at $5.63 EPS and Q2 2019 earnings at $1.90 EPS.
Other research analysts have also recently issued research reports about the company. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Piper Jaffray Companies restated a “buy” rating and issued a $112.00 price target on shares of Diamondback Energy in a research report on Thursday, September 14th. Northland Securities set a $125.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, August 21st. BMO Capital Markets set a $110.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Finally, Wells Fargo & Company set a $120.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $125.56.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.31. The firm had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) EPS.
Several hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake 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 in the last quarter. Vanguard Group Inc. boosted its stake 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 in the last quarter. Boston Partners boosted its stake in shares of Diamondback Energy by 18.1% during the third quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock valued at $771,379,000 after purchasing an additional 1,208,864 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 in the last quarter. Finally, Warburg Pincus LLC boosted its stake 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 in the last quarter.
In other news, VP Paul Molnar sold 5,000 shares of Diamondback Energy stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $111.83, for a total transaction of $559,150.00. Following the sale, the vice president now directly owns 37,563 shares of the company’s stock, valued at $4,200,670.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Teresa L. Dick sold 1,000 shares of Diamondback Energy stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $112.13, for a total value of $112,130.00. Following the sale, the chief financial officer now directly owns 30,760 shares in the company, valued at $3,449,118.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,400 shares of company stock worth $3,424,510. Company insiders own 0.41% of the company’s stock.
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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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