Diamondback Energy Inc (NASDAQ:FANG) – Investment analysts at B. Riley issued their FY2017 earnings per share (EPS) estimates for shares of Diamondback Energy in a report released on Monday. B. Riley analyst R. Rashid forecasts that the oil and natural gas company will post earnings of $4.75 per share for the year. B. Riley has a “Neutral” rating and a $150.00 price objective on the stock. B. Riley also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.12 EPS, Q1 2018 earnings at $1.60 EPS, Q2 2018 earnings at $1.50 EPS, Q3 2018 earnings at $1.69 EPS, Q4 2018 earnings at $1.97 EPS, FY2018 earnings at $6.76 EPS, Q1 2019 earnings at $2.29 EPS, Q2 2019 earnings at $2.56 EPS, Q3 2019 earnings at $2.85 EPS, Q4 2019 earnings at $2.99 EPS and FY2019 earnings at $10.68 EPS.
Several other brokerages have also weighed in on FANG. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 target price on the stock in a research report on Wednesday, January 17th. Deutsche Bank initiated coverage on shares of Diamondback Energy in a research report on Thursday, February 1st. They set a “buy” rating and a $162.00 target price on the stock. Scotiabank reiterated a “buy” rating and set a $118.00 target price on shares of Diamondback Energy in a research report on Wednesday, November 22nd. Morgan Stanley lifted their target price on shares of Diamondback Energy from $118.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $138.00 target price on shares of Diamondback Energy in a research report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $135.11.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same period last year, the business posted ($0.03) EPS. The business’s quarterly revenue was up 112.0% on a year-over-year basis.
In other Diamondback Energy news, VP Russell Pantermuehl sold 1,400 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $111.10, for a total value of $155,540.00. Following the completion of the transaction, the vice president now directly owns 60,814 shares of the company’s stock, valued at $6,756,435.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Travis D. Stice sold 35,000 shares of the business’s stock in a transaction dated 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 ninety days, insiders sold 73,400 shares of company stock valued at $8,896,150. Insiders own 0.41% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. raised its stake in shares of Diamondback Energy by 11.5% during the second quarter. Prudential Financial Inc. now owns 5,450 shares of the oil and natural gas company’s stock worth $484,000 after buying an additional 560 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in shares of Diamondback Energy during the second quarter worth approximately $1,041,000. Numeric Investors LLC bought a new stake in shares of Diamondback Energy during the second quarter worth approximately $568,000. Stifel Financial Corp raised its stake in shares of Diamondback Energy by 5.9% during the second quarter. Stifel Financial Corp now owns 34,210 shares of the oil and natural gas company’s stock worth $3,036,000 after buying an additional 1,897 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Diamondback Energy during the second quarter worth approximately $616,000.
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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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