Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Capital One Financial Corporation raised their FY2017 EPS estimates for Diamondback Energy in a research note issued on Thursday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and natural gas company will earn $4.70 per share for the year, up from their previous forecast of $4.43.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.44. The business had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business’s revenue was up 137.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share.
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Several other equities analysts have also recently issued reports on FANG. Stifel Nicolaus started coverage on Diamondback Energy in a report on Wednesday, April 12th. They set a “buy” rating and a $123.00 price objective for the company. Barclays PLC reissued an “equal weight” rating and set a $110.00 price target (down previously from $123.00) on shares of Diamondback Energy in a research report on Saturday, April 22nd. Williams Capital reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Diamondback Energy in a research report on Wednesday, May 3rd. Roth Capital set a $130.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets set a $120.00 price objective on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.31.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 96.04 on Monday. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $114.00. The stock has a 50 day moving average price of $89.98 and a 200-day moving average price of $98.63. The stock has a market capitalization of $9.42 billion, a PE ratio of 2043.40 and a beta of 1.06.
Several hedge funds have recently added to or reduced their stakes in the stock. Karp Capital Management Corp acquired a new stake in Diamondback Energy during the first quarter worth about $2,207,000. Investment House LLC increased its position in 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 worth $1,021,000 after buying an additional 6,845 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position 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 worth $27,894,000 after buying an additional 14,331 shares during the period. Stevens Capital Management LP bought a new position in Diamondback Energy during the first quarter worth $201,000. Finally, Nicholas Investment Partners LP increased its position in Diamondback Energy by 39.4% in the first quarter. Nicholas Investment Partners LP now owns 34,856 shares of the oil and natural gas company’s stock worth $3,615,000 after buying an additional 9,849 shares during the period. Institutional investors own 97.20% of the company’s stock.
In other news, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven E. West bought 2,400 shares of Diamondback Energy 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 acquisition, the director now directly owns 2,400 shares of the company’s stock, valued at $248,280. The disclosure for this purchase can be found here. 0.41% of the stock is owned by corporate insiders.
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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