SunTrust Banks Analysts Increase Earnings Estimates for Diamondback Energy Inc (FANG)

Diamondback Energy Inc (NASDAQ:FANG) – Equities research analysts at SunTrust Banks boosted their FY2018 EPS estimates for Diamondback Energy in a report released on Tuesday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn $7.27 per share for the year, up from their previous forecast of $6.17. SunTrust Banks has a “Buy” rating and a $130.00 price objective on the stock. SunTrust Banks also issued estimates for Diamondback Energy’s FY2019 earnings at $10.61 EPS and FY2020 earnings at $12.82 EPS.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. During the same period in the previous year, the business posted ($0.03) EPS. The business’s revenue was up 112.0% compared to the same quarter last year.

Several other equities research analysts have also commented on FANG. Morgan Stanley cut their price target on shares of Diamondback Energy to $164.00 and set an “overweight” rating for the company in a report on Wednesday. Stephens reissued a “buy” rating and issued a $160.00 price target on shares of Diamondback Energy in a report on Tuesday. B. Riley started coverage on shares of Diamondback Energy in a report on Monday. They issued a “neutral” rating and a $150.00 price target for the company. Deutsche Bank started coverage on shares of Diamondback Energy in a report on Thursday, February 1st. They issued a “buy” rating and a $162.00 price target for the company. Finally, Stifel Nicolaus set a $149.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $135.11.

Diamondback Energy (NASDAQ:FANG) traded down $4.31 on Thursday, hitting $114.19. 1,317,411 shares of the company traded hands, compared to its average volume of 1,246,654. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $134.52. The firm has a market cap of $11,966.59, a PE ratio of 27.81, a P/E/G ratio of 0.63 and a beta of 0.91.

In related news, insider Michael L. Hollis sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total value of $388,020.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Travis D. Stice sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were 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. Insiders have sold 73,400 shares of company stock valued at $8,896,150 in the last ninety days. Insiders own 0.41% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in FANG. Boston Partners grew its holdings in shares of Diamondback Energy by 18.1% in 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 during the period. Eagle Asset Management Inc. grew its holdings in shares of Diamondback Energy by 33.7% in the third quarter. Eagle Asset Management Inc. now owns 1,263,001 shares of the oil and natural gas company’s stock valued at $126,300,000 after purchasing an additional 318,035 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Diamondback Energy by 15.9% in the third quarter. Artisan Partners Limited Partnership now owns 2,141,967 shares of the oil and natural gas company’s stock valued at $209,827,000 after purchasing an additional 294,048 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Diamondback Energy in the third quarter valued at about $28,064,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Diamondback Energy by 59.7% in the third quarter. Ameriprise Financial Inc. now owns 580,057 shares of the oil and natural gas company’s stock valued at $56,838,000 after purchasing an additional 216,867 shares during the period.

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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.

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

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