Diamondback Energy, Inc. (NASDAQ:FANG) - Equities research analysts at Imperial Capital issued their Q2 2017 earnings per share (EPS) estimates for shares of Diamondback Energy in a research report issued on Tuesday. Imperial Capital analyst J. Wangler forecasts that the oil and natural gas company will post earnings of $1.08 per share for the quarter. Imperial Capital currently has a “Outperform” rating and a $110.00 target price on the stock. Imperial Capital also issued estimates for Diamondback Energy’s Q3 2017 earnings at $1.16 EPS, Q4 2017 earnings at $1.31 EPS, FY2017 earnings at $4.60 EPS and FY2018 earnings at $6.77 EPS.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.43. Diamondback Energy had a net margin of 0.62% and a return on equity of 6.51%. The firm had revenue of $235.23 million during the quarter, compared to analysts’ expectations of $218.62 million. COPYRIGHT VIOLATION WARNING: This news story was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/08/09/diamondback-energy-inc-to-post-q2-2017-earnings-of-1-08-per-share-imperial-capital-forecasts-nasdaqfang-updated-updated.html.
Other research 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 research note on Saturday, July 1st. BidaskClub upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies restated an “overweight” rating and set a $141.00 price target on shares of Diamondback Energy in a research note on Thursday, May 25th. BMO Capital Markets set a $120.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Finally, Barclays PLC reiterated a “hold” rating and issued a $93.00 target price on shares of Diamondback Energy in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $116.12.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 91.99 on Thursday. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $114.00. The stock has a market capitalization of $9.03 billion, a PE ratio of 1957.23 and a beta of 1.05. The company’s 50-day moving average is $88.97 and its 200-day moving average is $99.11.
In other Diamondback Energy news, Director Steven E. West acquired 2,400 shares of Diamondback Energy stock in a transaction dated Wednesday, May 17th. The stock was bought at an average cost of $103.45 per share, with a total value of $248,280.00. Following the acquisition, the director now owns 2,400 shares of the company’s stock, valued at $248,280. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $101.52, for a total transaction of $101,520.00. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new position in Diamondback Energy during the first quarter worth approximately $231,000. CWM LLC increased its position in Diamondback Energy by 6.9% in the first quarter. CWM LLC now owns 12,911 shares of the oil and natural gas company’s stock worth $1,339,000 after buying an additional 829 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Diamondback Energy by 24.8% in the first quarter. Gulf International Bank UK Ltd now owns 28,675 shares of the oil and natural gas company’s stock worth $2,974,000 after buying an additional 5,700 shares during the last quarter. Creative Planning increased its position in Diamondback Energy by 778.0% in the first quarter. Creative Planning now owns 11,712 shares of the oil and natural gas company’s stock worth $1,215,000 after buying an additional 10,378 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in Diamondback Energy during the first quarter worth approximately $5,492,000. 98.29% of the stock is owned by institutional investors.
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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