Diamondback Energy Inc. (NASDAQ:FANG) – Stock analysts at Williams Capital raised their FY2017 EPS estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday. Williams Capital analyst G. Sorbara now expects that the brokerage will post earnings per share of $2.65 for the year, up from their previous forecast of $2.64. Williams Capital has a “Hold” rating and a $112.00 price objective on the stock.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The company earned $112.48 million during the quarter, compared to analysts’ expectations of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. Diamondback Energy’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS.
FANG has been the topic of several other research reports. Stephens raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and set a $119.00 price objective on the stock in a research note on Monday. Mizuho assumed coverage on shares of Diamondback Energy in a research note on Wednesday, October 5th. They set a “buy” rating and a $105.00 price objective on the stock. Canaccord Genuity raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, July 20th. Nomura reaffirmed a “buy” rating and issued a $17.00 target price on shares of Diamondback Energy in a report on Monday, September 26th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $104.00 target price on shares of Diamondback Energy in a report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $100.50.
Shares of Diamondback Energy (NASDAQ:FANG) traded up 1.16% during trading on Tuesday, hitting $100.87. The stock had a trading volume of 144,179 shares. Diamondback Energy has a 1-year low of $55.48 and a 1-year high of $106.84. The company’s market capitalization is $7.87 billion. The firm has a 50-day moving average of $95.06 and a 200 day moving average of $90.19.
In other news, CFO Teresa L. Dick sold 1,000 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $95.71, for a total value of $95,710.00. Following the sale, the chief financial officer now owns 25,750 shares of the company’s stock, valued at $2,464,532.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $85.34, for a total transaction of $170,680.00. Following the completion of the sale, the vice president now directly owns 67,914 shares in the company, valued at approximately $5,795,780.76. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Granahan Investment Management Inc. MA purchased a new stake in shares of Diamondback Energy during the first quarter valued at $5,457,000. Hancock Holding Co. increased its stake in shares of Diamondback Energy by 0.7% in the first quarter. Hancock Holding Co. now owns 115,970 shares of the company’s stock valued at $8,951,000 after buying an additional 850 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Diamondback Energy by 0.4% in the first quarter. Wellington Management Group LLP now owns 7,512,803 shares of the company’s stock valued at $579,839,000 after buying an additional 26,247 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Diamondback Energy by 12.0% in the first quarter. Geode Capital Management LLC now owns 466,203 shares of the company’s stock valued at $35,981,000 after buying an additional 49,821 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Diamondback Energy during the first quarter valued at $489,000. 99.74% of the stock is currently owned by institutional investors and hedge funds.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
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