Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at Jefferies Financial Group reduced their Q3 2019 earnings per share estimates for shares of Diamondback Energy in a report released on Monday, July 15th. Jefferies Financial Group analyst M. Lear now expects that the oil and natural gas company will earn $1.70 per share for the quarter, down from their previous forecast of $1.97. Jefferies Financial Group also issued estimates for Diamondback Energy’s Q1 2020 earnings at $2.18 EPS and Q3 2020 earnings at $2.40 EPS.
Several other equities research analysts have also commented on the company. TD Securities upped their target price on Diamondback Energy from $155.00 to $160.00 and gave the company an “action list buy” rating in a research report on Thursday, June 20th. MKM Partners initiated coverage on Diamondback Energy in a research note on Friday, June 28th. They issued a “buy” rating for the company. Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. ValuEngine downgraded Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Williams Capital set a $165.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $158.83.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The company had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $893.16 million. During the same quarter in the previous year, the firm earned $1.64 EPS. Diamondback Energy’s revenue was up 80.4% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of FANG. Delek Group Ltd. increased its stake in Diamondback Energy by 13.9% during the 1st quarter. Delek Group Ltd. now owns 221,860 shares of the oil and natural gas company’s stock worth $22,414,000 after buying an additional 27,060 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Diamondback Energy by 3.4% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 126,008 shares of the oil and natural gas company’s stock worth $12,794,000 after purchasing an additional 4,146 shares during the period. Trexquant Investment LP acquired a new stake in Diamondback Energy during the 1st quarter worth $4,545,000. Alphasimplex Group LLC acquired a new stake in Diamondback Energy during the 1st quarter worth $1,031,000. Finally, Allstate Corp acquired a new stake in shares of Diamondback Energy in the 1st quarter worth $271,000. Hedge funds and other institutional investors own 99.10% of the company’s stock.
In other news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $107.47, for a total transaction of $161,205.00. Following the completion of the sale, the chief financial officer now owns 27,465 shares of the company’s stock, valued at $2,951,663.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $107.28, for a total transaction of $536,400.00. Following the sale, the vice president now directly owns 112,107 shares of the company’s stock, valued at approximately $12,026,838.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,500 shares of company stock valued at $1,258,505. 0.47% of the stock is currently owned by corporate insiders.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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