Diamondback Energy Inc (NASDAQ:FANG) – Investment analysts at Seaport Global Securities lifted their Q4 2017 EPS estimates for Diamondback Energy in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings per share of $1.63 for the quarter, up from their prior forecast of $1.29. Seaport Global Securities also issued estimates for Diamondback Energy’s Q1 2018 earnings at $1.16 EPS, Q2 2018 earnings at $1.30 EPS, Q3 2018 earnings at $1.39 EPS, Q4 2018 earnings at $1.49 EPS and FY2018 earnings at $5.34 EPS.
Several other research firms have also recently issued reports on FANG. BMO Capital Markets set a $110.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Scotiabank reaffirmed a “buy” rating and set a $118.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 22nd. Morgan Stanley upped their price objective on Diamondback Energy from $118.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Citigroup assumed coverage on Diamondback Energy in a research report on Friday, December 1st. They set a “buy” rating and a $130.00 price objective for the company. Finally, Williams Capital reaffirmed a “hold” rating and set a $110.00 price objective (up from $105.00) on shares of Diamondback Energy in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $124.54.
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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. The firm had revenue of $301.30 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned ($0.03) EPS.
In other news, VP Russell Pantermuehl sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $109.55, for a total transaction of $438,200.00. Following the completion of the transaction, the vice president now directly owns 64,214 shares of the company’s stock, valued at approximately $7,034,643.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Teresa L. Dick sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $115.84, for a total value of $1,158,400.00. Following the transaction, the chief financial officer now directly owns 25,760 shares of the company’s stock, valued at $2,984,038.40. The disclosure for this sale can be found here. Insiders have sold a total of 34,400 shares of company stock valued at $3,836,210 over the last ninety days. 0.41% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Johnson Financial Group Inc. purchased a new position in Diamondback Energy in the 2nd quarter valued at approximately $102,000. Cubist Systematic Strategies LLC increased its stake in Diamondback Energy by 46.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Diamondback Energy in the 3rd quarter valued at approximately $206,000. Commerce Bank purchased a new position in Diamondback Energy in the 3rd quarter valued at approximately $208,000. Finally, Sentry Investment Management LLC purchased a new position in Diamondback Energy in the 2nd quarter valued at approximately $215,000.
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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.
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