Diamondback Energy, Inc. (NASDAQ:FANG) – KeyCorp increased their FY2018 earnings estimates for shares of Diamondback Energy in a note issued to investors on Tuesday. KeyCorp analyst C. Stevens now forecasts that the firm will earn $6.96 per share for the year, up from their prior forecast of $6.88.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 14th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.36. Diamondback Energy had a negative net margin of 82.83% and a positive return on equity of 4.26%. The company had revenue of $185 million for the quarter, compared to analysts’ expectations of $167.45 million. During the same quarter in the previous year, the company posted $0.58 EPS. The firm’s quarterly revenue was up 61.9% on a year-over-year basis.

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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

Several other research analysts have also recently issued reports on FANG. BMO Capital Markets reiterated a “buy” rating and issued a $105.00 price objective on shares of Diamondback Energy in a research report on Tuesday, November 8th. Drexel Hamilton initiated coverage on Diamondback Energy in a research report on Thursday, December 15th. They issued a “hold” rating for the company. Canaccord Genuity reiterated a “buy” rating and issued a $120.00 price objective (up previously from $116.00) on shares of Diamondback Energy in a research report on Friday, December 16th. KLR Group set a $150.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, December 20th. Finally, Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 3rd. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $110.35.

Shares of Diamondback Energy (NASDAQ:FANG) traded down 2.53% during midday trading on Thursday, reaching $109.01. 1,504,399 shares of the company’s stock traded hands. The stock’s 50 day moving average is $103.68 and its 200-day moving average is $98.71. Diamondback Energy has a 52 week low of $67.52 and a 52 week high of $114.00. The company’s market capitalization is $8.51 billion.

In related news, VP Russell Pantermuehl sold 4,000 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $107.84, for a total transaction of $431,360.00. Following the sale, the vice president now owns 65,514 shares of the company’s stock, valued at $7,065,029.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Teresa L. Dick sold 2,500 shares of the stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $111.90, for a total value of $279,750.00. Following the sale, the chief financial officer now directly owns 20,510 shares in the company, valued at approximately $2,295,069. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

This news story was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this news story can be accessed at http://www.watchlistnews.com/fy2018-eps-estimates-for-diamondback-energy-inc-boosted-by-analyst-fang/1120726.html.

Several hedge funds have recently bought and sold shares of FANG. Creative Planning raised its stake in 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 last quarter. BOKF NA raised its stake in shares of Diamondback Energy by 12.8% in the third quarter. BOKF NA now owns 1,208 shares of the company’s stock worth $116,000 after buying an additional 137 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Diamondback Energy by 7.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,466 shares of the company’s stock worth $142,000 after buying an additional 107 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth about $203,000. Finally, Strategic Investment Management LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $203,000. 95.51% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:FANG

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