Research Analysts Offer Predictions for Diamondback Energy, Inc.’s FY2017 Earnings (FANG)
Diamondback Energy, Inc. (NASDAQ:FANG) – Research analysts at US Capital Advisors issued their FY2017 EPS estimates for shares of Diamondback Energy in a research note issued to investors on Monday. US Capital Advisors analyst C. Horwitz anticipates that the oil and natural gas company will post earnings per share of $5.16 for the year. US Capital Advisors has a “Buy” rating on the stock. US Capital Advisors also issued estimates for Diamondback Energy’s FY2018 earnings at $7.47 EPS, FY2019 earnings at $9.77 EPS, FY2020 earnings at $12.65 EPS and FY2021 earnings at $16.01 EPS.
Other equities analysts have also issued research reports about the stock. Scotiabank set a $95.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. BMO Capital Markets reissued a “buy” rating and issued a $100.00 price target on shares of Diamondback Energy in a report on Tuesday, June 27th. Northland Securities set a $125.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Monday, July 17th. Bank of America Corporation began coverage on shares of Diamondback Energy in a report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price target on the stock. Finally, Roth Capital increased their price target on shares of Diamondback Energy from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $120.38.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 99.75 on Thursday. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 27.43 and a beta of 1.08. 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 of $92.98 and a 200-day moving average of $95.20.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 137.7% on a year-over-year basis.
A number of institutional investors and hedge funds have recently made changes to their positions in FANG. BlackRock Inc. boosted its position in Diamondback Energy by 5,554.4% during the 1st quarter. BlackRock Inc. now owns 4,707,194 shares of the oil and natural gas company’s stock valued at $488,205,000 after buying an additional 4,623,946 shares during the period. Warburg Pincus LLC boosted its position in Diamondback Energy by 132.4% during the 2nd quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock valued at $580,188,000 after buying an additional 3,721,519 shares during the period. Artisan Partners Limited Partnership boosted its position 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 valued at $164,114,000 after buying an additional 1,674,336 shares during the period. JPMorgan Chase & Co. boosted its position in Diamondback Energy by 20.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock valued at $677,951,000 after buying an additional 1,278,802 shares during the period. Finally, Capital World Investors boosted its position in Diamondback Energy by 98.1% during the 2nd quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock valued at $223,490,000 after buying an additional 1,246,072 shares during the period.
In other Diamondback Energy news, insider Michael L. Hollis sold 1,000 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total transaction of $57,518.50. Following the sale, the vice president now directly owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,805 shares of company stock valued at $1,129,501 in the last three months. 0.41% of the stock is currently owned by corporate insiders.
Diamondback Energy Company Profile
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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