Diamondback Energy, Inc. (NASDAQ:FANG) – Williams Capital decreased their Q2 2017 EPS estimates for shares of Diamondback Energy in a report issued on Monday. Williams Capital analyst G. Sorbara now expects that the oil and natural gas company will post earnings of $1.11 per share for the quarter, down from their prior estimate of $1.15. Williams Capital currently has a “Hold” rating and a $120.00 target price on the stock. Williams Capital also issued estimates for Diamondback Energy’s FY2017 earnings at $5.01 EPS, FY2018 earnings at $7.96 EPS and FY2019 earnings at $12.28 EPS.
FANG has been the topic of several other reports. Credit Suisse Group restated an “outperform” rating and issued a $151.00 price objective on shares of Diamondback Energy in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. TheStreet upgraded shares of Diamondback Energy from a “c” rating to a “b-” rating in a research note on Friday, March 3rd. Barclays PLC reiterated an “equal weight” rating and set a $110.00 price target (down from $123.00) on shares of Diamondback Energy in a research note on Saturday, April 22nd. Finally, Stifel Nicolaus started coverage on shares of Diamondback Energy in a research note on Wednesday, April 12th. They set a “buy” rating and a $123.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $118.43.
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Diamondback Energy (NASDAQ FANG) opened at 84.87 on Thursday. The stock has a market cap of $8.33 billion, a P/E ratio of 1805.74 and a beta of 1.04. Diamondback Energy has a 1-year low of $82.80 and a 1-year high of $114.00. The company has a 50-day moving average of $96.52 and a 200 day moving average of $101.71.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.43. The company had revenue of $235.23 million for the quarter, compared to the consensus estimate of $218.62 million. Diamondback Energy had a net margin of 0.62% and a return on equity of 6.51%.
In related news, Director Steven E. West purchased 2,400 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the purchase, the director now directly owns 2,400 shares of the company’s stock, valued at $248,280. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $101.52, for a total value of $101,520.00. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Diamondback Energy during the fourth quarter valued at approximately $6,205,000. Commerzbank Aktiengesellschaft FI bought a new stake in Diamondback Energy during the fourth quarter valued at approximately $411,000. State Board of Administration of Florida Retirement System boosted its stake in Diamondback Energy by 9.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 114,358 shares of the oil and natural gas company’s stock valued at $11,557,000 after buying an additional 9,411 shares during the period. Comerica Bank boosted its stake in Diamondback Energy by 39.5% in the fourth quarter. Comerica Bank now owns 12,831 shares of the oil and natural gas company’s stock valued at $1,301,000 after buying an additional 3,633 shares during the period. Finally, State Street Corp boosted its stake in Diamondback Energy by 26.4% in the fourth quarter. State Street Corp now owns 1,823,966 shares of the oil and natural gas company’s stock valued at $184,324,000 after buying an additional 380,516 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.
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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