Diamondback Energy Inc (NASDAQ:FANG) – Equities research analysts at SunTrust Banks lifted their FY2018 EPS estimates for Diamondback Energy in a report released on Wednesday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn $7.34 per share for the year, up from their prior estimate of $7.27. SunTrust Banks has a “Buy” rating and a $165.00 price objective on the stock. SunTrust Banks also issued estimates for Diamondback Energy’s FY2019 earnings at $10.87 EPS.
Several other research analysts also recently commented on the stock. Stephens reaffirmed a “buy” rating and issued a $159.00 price objective on shares of Diamondback Energy in a report on Friday. Northland Securities set a $140.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Wednesday. Williams Capital set a $137.00 price objective on shares of Diamondback Energy and gave the stock a “hold” rating in a report on Wednesday. BidaskClub downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Morgan Stanley cut their price objective on shares of Diamondback Energy to $164.00 and set an “overweight” rating for the company in a report on Wednesday, February 7th. Five research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $137.60.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.74%. The company had revenue of $399.19 million during the quarter, compared to analyst estimates of $370.74 million.
In other Diamondback Energy news, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $111.83, for a total value of $559,150.00. Following the completion of the transaction, the vice president now directly owns 37,563 shares of the company’s stock, valued at approximately $4,200,670.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $111.45, for a total transaction of $222,900.00. Following the completion of the transaction, the vice president now directly owns 63,314 shares of the company’s stock, valued at $7,056,345.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,400 shares of company stock valued at $8,337,200. Insiders own 0.41% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Boston Partners lifted its holdings in shares of Diamondback Energy by 18.1% during the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after acquiring an additional 1,208,864 shares during the last quarter. Viking Global Investors LP bought a new stake in shares of Diamondback Energy during the 4th quarter worth $78,139,000. Carillon Tower Advisers Inc. bought a new stake in shares of Diamondback Energy during the 4th quarter worth $72,286,000. Franklin Resources Inc. lifted its holdings in shares of Diamondback Energy by 76.1% during the 4th quarter. Franklin Resources Inc. now owns 765,062 shares of the oil and natural gas company’s stock worth $96,581,000 after acquiring an additional 330,652 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Diamondback Energy by 33.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,263,001 shares of the oil and natural gas company’s stock worth $126,300,000 after acquiring an additional 318,035 shares during the last quarter.
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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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