Research Analysts Offer Predictions for Diamondback Energy Inc’s FY2017 Earnings (FANG)

Diamondback Energy Inc (NASDAQ:FANG) – Analysts at KeyCorp raised their FY2017 earnings per share estimates for Diamondback Energy in a research report issued on Sunday. KeyCorp analyst C. Stevens now expects that the oil and natural gas company will earn $4.84 per share for the year, up from their prior forecast of $4.74. KeyCorp has a “Buy” rating and a $137.00 price objective on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.21 EPS.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.31. The firm had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The firm’s revenue was up 112.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share.

FANG has been the subject of a number of other research reports. Piper Jaffray Companies restated a “buy” rating and issued a $118.00 price objective on shares of Diamondback Energy in a research report on Friday, November 24th. SunTrust Banks reaffirmed a “buy” rating and issued a $130.00 target price on shares of Diamondback Energy in a report on Friday, November 10th. Stifel Nicolaus set a $129.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a report on Thursday, October 5th. BidaskClub raised shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Finally, Goldman Sachs Group cut shares of Diamondback Energy from a “conviction-buy” rating to a “buy” rating and increased their target price for the company from $106.53 to $118.00 in a report on Friday, November 17th. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $129.08.

Shares of Diamondback Energy (FANG) opened at $132.21 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45. The company has a market cap of $12,523.20, a PE ratio of 32.01, a P/E/G ratio of 0.74 and a beta of 1.08. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $132.31.

Institutional investors and hedge funds have recently modified their holdings of the company. KCS Wealth Advisory purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $202,000. Crossmark Global Holdings Inc. purchased a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $206,000. Commerce Bank purchased a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $208,000. S&CO Inc. purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $271,000. Finally, Cubist Systematic Strategies LLC increased its stake 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 worth $195,000 after purchasing an additional 700 shares in the last quarter.

In other news, CFO Teresa L. Dick sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $115.84, for a total transaction of $1,158,400.00. Following the completion of the transaction, the chief financial officer now directly owns 25,760 shares of the company’s stock, valued at approximately $2,984,038.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Travis D. Stice sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total transaction of $4,375,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,400 shares of company stock valued at $9,544,350. Corporate 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.

Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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