Jefferies Group LLC assumed coverage on shares of Diamondback Energy, Inc. (NASDAQ:FANG) in a report issued on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $124.00 price objective on the oil and natural gas company’s stock. Jefferies Group also issued estimates for Diamondback Energy’s Q3 2017 earnings at $1.34 EPS, Q4 2017 earnings at $1.65 EPS, Q1 2018 earnings at $1.22 EPS, Q2 2018 earnings at $1.35 EPS, Q3 2018 earnings at $1.63 EPS, Q4 2018 earnings at $1.75 EPS, FY2018 earnings at $5.95 EPS, Q1 2019 earnings at $2.02 EPS, Q2 2019 earnings at $2.19 EPS, Q3 2019 earnings at $2.35 EPS and FY2019 earnings at $9.05 EPS.

FANG has been the subject of several other reports. Zacks Investment Research downgraded Diamondback Energy from a hold rating to a sell rating in a research report on Tuesday, July 11th. BidaskClub upgraded Diamondback Energy from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Northland Securities restated a buy rating and set a $125.00 price objective on shares of Diamondback Energy in a research report on Tuesday, September 26th. BMO Capital Markets restated a buy rating and set a $100.00 price objective on shares of Diamondback Energy in a research report on Tuesday, June 27th. Finally, KeyCorp restated a buy rating and set a $113.00 price objective on shares of Diamondback Energy in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $121.09.

Diamondback Energy (NASDAQ FANG) traded down 0.62% on Monday, hitting $100.89. The company had a trading volume of 134,882 shares. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The firm has a 50-day moving average price of $94.51 and a 200-day moving average price of $95.13. The firm has a market capitalization of $9.90 billion, a PE ratio of 27.74 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. During the same period in the prior year, the company earned $0.26 EPS. Diamondback Energy’s revenue for the quarter was up 137.7% on a year-over-year basis. On average, equities research analysts anticipate that Diamondback Energy will post $4.96 earnings per share for the current fiscal year.

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In other news, VP Russell Pantermuehl sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $96.89, for a total transaction of $387,560.00. Following the completion of the transaction, the vice president now directly owns 70,214 shares in the company, valued at $6,803,034.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. Insiders have sold 11,805 shares of company stock valued at $1,129,501 over the last 90 days. 0.41% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Artisan Partners Limited Partnership raised its position in shares of Diamondback Energy by 964.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,847,919 shares of the oil and natural gas company’s stock worth $164,114,000 after acquiring an additional 1,674,336 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Diamondback Energy by 8,536.0% during the second quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock worth $8,637,000 after acquiring an additional 758,170 shares during the last quarter. Nicholas Investment Partners LP raised its position in shares of Diamondback Energy by 39.4% during the first quarter. Nicholas Investment Partners LP now owns 34,856 shares of the oil and natural gas company’s stock worth $3,615,000 after acquiring an additional 9,849 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Diamondback Energy by 97.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 14,739 shares of the oil and natural gas company’s stock worth $1,529,000 after acquiring an additional 7,269 shares during the last quarter. Finally, Warburg Pincus LLC bought a new position in shares of Diamondback Energy during the first quarter worth about $291,598,000.

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.

Analyst Recommendations for Diamondback Energy (NASDAQ:FANG)

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