Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at SunTrust Banks issued their Q1 2018 earnings per share estimates for Diamondback Energy in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst N. Dingmann anticipates that the oil and natural gas company will earn $1.58 per share for the quarter. SunTrust Banks has a “Buy” rating and a $165.00 price target on the stock. SunTrust Banks also issued estimates for Diamondback Energy’s Q2 2018 earnings at $1.73 EPS, Q3 2018 earnings at $1.94 EPS, Q4 2018 earnings at $2.10 EPS and FY2020 earnings at $14.35 EPS.
Other analysts have also issued research reports about the company. Northland Securities set a $120.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Monday, December 11th. Citigroup initiated coverage on Diamondback Energy in a report on Friday, December 1st. They issued a “buy” rating and a $130.00 price objective for the company. Mizuho set a $122.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Saturday, November 25th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Diamondback Energy in a report on Friday, November 24th. Finally, Scotiabank reissued a “buy” rating and set a $118.00 price target on shares of Diamondback Energy in a report on Wednesday, November 22nd. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Diamondback Energy has a consensus rating of “Buy” and an average price target of $137.60.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.16. Diamondback Energy had a return on equity of 9.63% and a net margin of 40.02%. The company had revenue of $399.19 million during the quarter, compared to analyst estimates of $370.74 million.
In other news, VP Russell Pantermuehl sold 1,400 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was 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 owns 60,814 shares of the company’s stock, valued at $6,756,435.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was 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 ninety days, insiders sold 68,400 shares of company stock valued at $8,337,200. Corporate insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new position in shares of Diamondback Energy in the fourth quarter worth about $149,000. IFP Advisors Inc boosted its stake 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 worth $164,000 after acquiring an additional 389 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake 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 worth $178,000 after acquiring an additional 1,167 shares during the period. Cubist Systematic Strategies LLC boosted its stake 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 worth $195,000 after acquiring an additional 700 shares during the period. Finally, KCS Wealth Advisory bought a new position in shares of Diamondback Energy in the fourth quarter worth about $202,000.
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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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