Imperial Capital started coverage on shares of Diamondback Energy, Inc. (NASDAQ:FANG) in a report published on Tuesday, July 18th, Marketbeat Ratings reports. The firm issued an outperform rating and a $110.00 target price on the oil and natural gas company’s stock. Imperial Capital also issued estimates for Diamondback Energy’s Q2 2017 earnings at $1.08 EPS, Q3 2017 earnings at $1.16 EPS, Q4 2017 earnings at $1.31 EPS, FY2017 earnings at $4.60 EPS and FY2018 earnings at $6.77 EPS.
Several other analysts also recently weighed in on FANG. UBS AG initiated coverage on Diamondback Energy in a research note on Thursday, March 23rd. They set a neutral rating and a $114.00 target price on the stock. Zacks Investment Research cut Diamondback Energy from a buy rating to a hold rating in a report on Monday, March 27th. Scotiabank restated a buy rating and issued a $121.00 target price on shares of Diamondback Energy in a report on Monday, March 27th. Stifel Nicolaus began coverage on Diamondback Energy in a report on Wednesday, April 12th. They issued a buy rating and a $123.00 target price on the stock. Finally, Barclays PLC reiterated an equal weight rating and set a $110.00 price target (down previously from $123.00) on shares of Diamondback Energy in a report on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $116.32.
Shares of Diamondback Energy (FANG) traded up 0.88% on Tuesday, reaching $92.87. 1,182,586 shares of the company’s stock traded hands. The firm has a market capitalization of $9.11 billion, a P/E ratio of 25.53 and a beta of 1.06. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $114.00. The firm’s 50 day moving average is $91.49 and its 200 day moving average is $98.25.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.44. The firm had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm’s revenue for the quarter was up 137.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. Analysts expect that Diamondback Energy will post $4.88 earnings per share for the current fiscal year.
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total transaction of $101,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven E. West purchased 2,400 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $103.45 per share, with a total value of $248,280.00. Following the completion of the transaction, the director now owns 2,400 shares of the company’s stock, valued at approximately $248,280. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Diamondback Energy by 262.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 558,659 shares of the oil and natural gas company’s stock valued at $56,456,000 after buying an additional 404,345 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Diamondback Energy during the first quarter valued at $2,207,000. Investment House LLC raised its position in shares of Diamondback Energy by 228.2% in the first quarter. Investment House LLC now owns 9,845 shares of the oil and natural gas company’s stock valued at $1,021,000 after buying an additional 6,845 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Diamondback Energy by 5.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 268,944 shares of the oil and natural gas company’s stock valued at $27,894,000 after buying an additional 14,331 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Diamondback Energy during the first quarter valued at approximately $201,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.
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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