Diamondback Energy Inc. (NASDAQ:FANG) – Equities research analysts at Seaport Global Securities lifted their Q3 2016 EPS estimates for shares of Diamondback Energy in a research note issued on Monday. Seaport Global Securities analyst M. Kelly now expects that the brokerage will earn $0.42 per share for the quarter, up from their previous estimate of $0.35. Seaport Global Securities also issued estimates for Diamondback Energy’s Q4 2016 earnings at $0.56 EPS, FY2016 earnings at $1.26 EPS, Q2 2017 earnings at $0.62 EPS, Q3 2017 earnings at $0.67 EPS, Q4 2017 earnings at $0.73 EPS and FY2017 earnings at $2.58 EPS.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The company earned $112.48 million during the quarter, compared to analyst estimates of $112.47 million. Diamondback Energy had a negative net margin of 124.95% and a positive return on equity of 3.82%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS.
A number of other research analysts also recently commented on the stock. Simmons reaffirmed an “overweight” rating and set a $109.00 price objective (up from $106.00) on shares of Diamondback Energy in a research report on Saturday, August 13th. Zacks Investment Research downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 30th. Piper Jaffray Cos. started coverage on shares of Diamondback Energy in a research report on Monday, July 11th. They set an “overweight” rating and a $101.00 price objective on the stock. Roth Capital reiterated a “hold” rating on shares of Diamondback Energy in a research note on Tuesday, July 12th. Finally, Mizuho started coverage on shares of Diamondback Energy in a research note on Wednesday, October 5th. They issued a “buy” rating and a $105.00 target price for the company. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $99.86.
Diamondback Energy (NASDAQ:FANG) opened at 103.53 on Wednesday. Diamondback Energy has a one year low of $55.48 and a one year high of $106.84. The firm’s 50-day moving average is $94.74 and its 200 day moving average is $89.52. The firm’s market capitalization is $8.08 billion.
A number of hedge funds have recently modified their holdings of FANG. Creative Planning boosted its stake in shares of Diamondback Energy by 7.3% in the third quarter. Creative Planning now owns 1,073 shares of the company’s stock worth $104,000 after buying an additional 73 shares during the period. Seven Eight Capital LLC bought a new stake in shares of Diamondback Energy during the second quarter worth about $119,000. Advisor Group Inc. bought a new stake in shares of Diamondback Energy during the second quarter worth about $120,000. PNC Financial Services Group Inc. boosted its stake in shares of Diamondback Energy by 56.6% in the second quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the company’s stock worth $125,000 after buying an additional 491 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Diamondback Energy by 537.9% in the third quarter. BNP Paribas Arbitrage SA now owns 1,499 shares of the company’s stock worth $145,000 after buying an additional 1,264 shares during the period. 99.74% of the stock is currently owned by institutional investors and hedge funds.
In related news, COO Michael L. Hollis sold 10,000 shares of the stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $104.00, for a total transaction of $1,040,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Teresa L. Dick sold 1,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $95.71, for a total value of $95,710.00. Following the sale, the chief financial officer now directly owns 25,750 shares in the company, valued at approximately $2,464,532.50. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
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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