Q1 2017 EPS Estimates for Diamondback Energy Inc. (FANG) Boosted by Analyst
Diamondback Energy Inc. (NASDAQ:FANG) – Research analysts at Seaport Global Securities boosted their Q1 2017 earnings estimates for shares of Diamondback Energy in a report released on Monday. Seaport Global Securities analyst M. Kelly now anticipates that the firm will post earnings of $0.56 per share for the quarter, up from their prior estimate of $0.50.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.16 by $0.10. The business 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%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS.
Several other research firms have also commented on FANG. Barclays PLC upped their target price on Diamondback Energy from $88.00 to $108.00 and gave the company an “equal weight” rating in a report on Tuesday. Canaccord Genuity boosted their price objective on Diamondback Energy from $103.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday. Wunderlich upped their target price on Diamondback Energy from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday. KLR Group increased their price objective on Diamondback Energy from $126.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Williams Capital reiterated a “hold” rating and set a $112.00 price objective (up previously from $105.00) on shares of Diamondback Energy in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $98.28.
Diamondback Energy (NASDAQ:FANG) traded up 0.44% during trading on Tuesday, reaching $105.30. The company had a trading volume of 121,798 shares. Diamondback Energy has a 52-week low of $55.48 and a 52-week high of $106.84. The firm’s market capitalization is $8.22 billion. The company has a 50-day moving average of $94.31 and a 200-day moving average of $89.31.
In related news, COO Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $98.00, for a total transaction of $2,940,000.00. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of FANG. Geode Capital Management LLC boosted its stake in 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. Rafferty Asset Management LLC acquired a new stake in shares of Diamondback Energy during the first quarter valued at about $489,000. State Street Corp raised its stake in shares of Diamondback Energy by 2.1% in the first quarter. State Street Corp now owns 1,268,725 shares of the company’s stock valued at $97,921,000 after buying an additional 26,576 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Diamondback Energy during the first quarter valued at about $2,248,000. Finally, M&T Bank Corp raised its stake in shares of Diamondback Energy by 31.0% in the first quarter. M&T Bank Corp now owns 4,770 shares of the company’s stock valued at $368,000 after buying an additional 1,128 shares during the last quarter. 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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