Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at Imperial Capital dropped their Q3 2018 earnings per share estimates for Diamondback Energy in a report issued on Monday, September 24th. Imperial Capital analyst J. Wangler now anticipates that the oil and natural gas company will post earnings per share of $1.74 for the quarter, down from their prior estimate of $1.79. Imperial Capital has a “Outperform” rating and a $170.00 price target on the stock. Imperial Capital also issued estimates for Diamondback Energy’s FY2018 earnings at $6.99 EPS.
A number of other equities analysts have also recently issued reports on the company. SunTrust Banks reissued a “buy” rating and issued a $170.00 target price on shares of Diamondback Energy in a report on Friday, August 10th. KLR Group reissued a “buy” rating and issued a $211.00 target price on shares of Diamondback Energy in a report on Monday, August 20th. Morgan Stanley dropped their target price on Diamondback Energy from $176.00 to $164.00 and set an “overweight” rating for the company in a report on Thursday, August 16th. TD Securities set a $175.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Saturday, August 11th. Finally, Raymond James reissued a “buy” rating and issued a $166.00 target price on shares of Diamondback Energy in a report on Monday, August 13th. Three investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $154.32.
Diamondback Energy stock opened at $131.33 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 0.83 and a beta of 0.62. Diamondback Energy has a 12 month low of $95.69 and a 12 month high of $138.25.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.05). The firm had revenue of $526.30 million during the quarter, compared to analyst estimates of $479.57 million. Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The company’s revenue was up 95.4% on a year-over-year basis. During the same period last year, the company earned $1.25 EPS.
A number of hedge funds have recently added to or reduced their stakes in FANG. BlueMountain Capital Management LLC bought a new position in Diamondback Energy in the 2nd quarter valued at $64,179,000. Lord Abbett & CO. LLC boosted its position in Diamondback Energy by 223.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 666,299 shares of the oil and natural gas company’s stock valued at $84,300,000 after buying an additional 459,995 shares during the last quarter. Arosa Capital Management LP bought a new position in Diamondback Energy in the 1st quarter valued at $34,257,000. Legal & General Group Plc boosted its position in Diamondback Energy by 206.8% in the 1st quarter. Legal & General Group Plc now owns 401,479 shares of the oil and natural gas company’s stock valued at $50,795,000 after buying an additional 270,607 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Diamondback Energy by 40.4% in the 2nd quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock valued at $121,835,000 after buying an additional 266,321 shares during the last quarter.
In related news, insider Michael L. Hollis sold 5,000 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $128.85, for a total transaction of $644,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the sale, the vice president now directly owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The disclosure for this sale can be found here. Insiders have sold a total of 7,140 shares of company stock valued at $916,735 over the last ninety days. Insiders own 0.57% of the company’s stock.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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