Diamondback Energy, Inc. (FANG) to Post Q4 2017 Earnings of $1.49 Per Share, Imperial Capital Forecasts
Diamondback Energy, Inc. (NASDAQ:FANG) – Equities research analysts at Imperial Capital raised their Q4 2017 earnings per share estimates for Diamondback Energy in a report issued on Wednesday. Imperial Capital analyst J. Wangler now expects that the oil and natural gas company will post earnings per share of $1.49 for the quarter, up from their previous estimate of $1.44. Imperial Capital currently has a “Outperform” rating and a $130.00 target price on the stock. Imperial Capital also issued estimates for Diamondback Energy’s FY2018 earnings at $6.75 EPS.
Other analysts have also recently issued reports about the company. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Mizuho restated a “buy” rating and issued a $114.00 target price (up from $109.00) on shares of Diamondback Energy in a report on Thursday, August 3rd. Bank of America Corporation initiated coverage on Diamondback Energy in a report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 target price for the company. Finally, Northland Securities set a $125.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $123.52.
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Shares of Diamondback Energy (FANG) opened at $111.86 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.46. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.93. The company has a market capitalization of $10,899.51, a P/E ratio of 23.77, a P/E/G ratio of 0.81 and a beta of 1.10.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The firm had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 112.0% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the stock. Viking Fund Management LLC grew its stake in Diamondback Energy by 6.3% during the 3rd quarter. Viking Fund Management LLC now owns 220,000 shares of the oil and natural gas company’s stock worth $21,551,000 after buying an additional 13,000 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Diamondback Energy by 964.6% during the 2nd 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 buying an additional 1,674,336 shares during the last quarter. Harbour Capital Advisors LLC grew its stake in Diamondback Energy by 8,536.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock worth $8,637,000 after buying an additional 758,170 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 831,952 shares of the oil and natural gas company’s stock valued at $73,887,000 after purchasing an additional 62,224 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Diamondback Energy by 4.9% in the 2nd quarter. BlackRock Inc. now owns 4,936,470 shares of the oil and natural gas company’s stock valued at $438,409,000 after purchasing an additional 229,276 shares during the last quarter.
In related news, insider Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul Molnar sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the transaction, the vice president now owns 42,563 shares in the company, valued at approximately $4,045,187.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,805 shares of company stock worth $1,449,381. Company insiders own 0.41% of the company’s stock.
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.
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