Diamondback Energy Inc. (NASDAQ:FANG) – Investment analysts at KeyCorp lifted their Q3 2016 EPS estimates for shares of Diamondback Energy in a note issued to investors on Monday. KeyCorp analyst C. Stevens now anticipates that the brokerage will earn $0.47 per share for the quarter, up from their prior estimate of $0.40. KeyCorp has a “Overweight” rating and a $110.00 price target on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q4 2016 earnings at $0.67 EPS and FY2016 earnings at $1.46 EPS.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. The firm had revenue of $112.48 million for the quarter, compared to analyst estimates of $112.47 million. During the same quarter in the prior year, the company earned $0.41 EPS. Diamondback Energy’s revenue was down 5.5% on a year-over-year basis.
Several other research firms have also recently commented on FANG. Wunderlich boosted their price target on Diamondback Energy from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday. KLR Group boosted their price target on Diamondback Energy from $126.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday. Williams Capital reiterated a “hold” rating and issued a $112.00 price target (up previously from $105.00) on shares of Diamondback Energy in a research note on Monday. Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 30th. Finally, Mizuho started coverage on Diamondback Energy in a research note on Wednesday, October 5th. They set a “buy” rating and a $105.00 price objective on the stock. Seven investment 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 stock. The company presently has an average rating of “Buy” and an average price target of $96.93.
Diamondback Energy (NASDAQ:FANG) traded down 0.10% during trading on Tuesday, reaching $105.10. The company had a trading volume of 893,243 shares. The company’s market capitalization is $8.20 billion. The firm’s 50 day moving average is $94.07 and its 200-day moving average is $89.20. Diamondback Energy has a 12 month low of $55.48 and a 12 month high of $106.84.
Several hedge funds have recently made changes to their positions in FANG. Winslow Capital Management LLC purchased a new stake in shares of Diamondback Energy during the second quarter valued at about $255,580,000. FMR LLC raised its stake in shares of Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock valued at $773,449,000 after buying an additional 665,001 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Diamondback Energy during the second quarter valued at about $41,604,000. TimesSquare Capital Management LLC purchased a new stake in shares of Diamondback Energy during the first quarter valued at about $29,799,000. Finally, Magnetar Financial LLC raised its stake in shares of Diamondback Energy by 87.2% in the first quarter. Magnetar Financial LLC now owns 748,600 shares of the company’s stock valued at $57,777,000 after buying an additional 348,600 shares in the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.
In related news, COO Michael L. Hollis sold 1,000 shares of the stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total value of $2,940,000.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
About Diamondback Energy
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.
Receive News & Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.