Diamondback Energy Inc (NASDAQ:FANG) – Investment analysts at Capital One Financial raised their Q1 2018 earnings per share (EPS) estimates for shares of Diamondback Energy in a research report issued to clients and investors on Tuesday. Capital One Financial analyst R. Tullis now anticipates that the oil and natural gas company will post earnings per share of $1.49 for the quarter, up from their previous estimate of $1.48. Capital One Financial also issued estimates for Diamondback Energy’s FY2018 earnings at $6.57 EPS.
FANG has been the subject of several other reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $118.00 price target on shares of Diamondback Energy in a report on Friday, November 24th. Stephens reaffirmed a “buy” rating and set a $160.00 price target on shares of Diamondback Energy in a report on Tuesday. SunTrust Banks reaffirmed a “buy” rating and set a $130.00 price target on shares of Diamondback Energy in a report on Friday, November 10th. Stifel Nicolaus set a $149.00 price target on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, BidaskClub raised Diamondback Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Four research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $135.22.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The firm had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was up 112.0% on a year-over-year basis.
In other news, VP Russell Pantermuehl sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $109.55, for a total value of $438,200.00. Following the completion of the transaction, the vice president now owns 64,214 shares in the company, valued at $7,034,643.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Travis D. Stice sold 35,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total value of $4,375,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,400 shares of company stock valued at $9,334,350. Company insiders own 0.41% of the company’s stock.
Several hedge funds have recently made changes to their positions in FANG. IFP Advisors Inc increased its position in shares of Diamondback Energy by 42.6% in the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock valued at $164,000 after buying an additional 389 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Diamondback Energy by 476.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock valued at $178,000 after buying an additional 1,167 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after buying an additional 700 shares in the last quarter. KCS Wealth Advisory purchased a new position in shares of Diamondback Energy in the fourth quarter valued at $202,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Diamondback Energy in the third quarter valued at $206,000.
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.
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