Diamondback Energy, Inc. (NASDAQ:FANG) – Capital One Financial Corporation upped their FY2017 EPS estimates for shares of Diamondback Energy in a research note issued on Wednesday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and natural gas company will earn $5.08 per share for the year, up from their prior estimate of $5.07.
FANG has been the subject of several other research reports. BidaskClub raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Barclays PLC raised their price objective on shares of Diamondback Energy from $105.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 11th. Jefferies Group LLC started coverage on shares of Diamondback Energy in a research note on Monday, October 9th. They issued a “buy” rating and a $124.00 price objective for the company. Northland Securities reissued a “buy” rating and issued a $125.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 26th. Finally, KeyCorp reissued a “buy” rating and issued a $113.00 price objective on shares of Diamondback Energy in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average 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 current ratio of 0.46 and a quick ratio of 0.67. The stock has a market cap of $10,899.51, a PE ratio of 23.77, a price-to-earnings-growth ratio of 0.81 and a beta of 1.10. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $114.93.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. The business had revenue of $301.30 million during the quarter, compared to the consensus estimate of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The firm’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share.
In other Diamondback Energy news, insider Michael L. Hollis sold 2,000 shares of Diamondback Energy stock in a transaction on Friday, October 27th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total transaction of $57,518.50. Following the completion of the transaction, the vice president now directly owns 4,950 shares in the company, valued at $438,025.50. The disclosure for this sale can be found here. Insiders sold 14,805 shares of company stock worth $1,449,381 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Warburg Pincus LLC grew its holdings in Diamondback Energy by 132.4% in the second quarter. Warburg Pincus LLC now owns 6,532,915 shares of the oil and natural gas company’s stock worth $580,188,000 after purchasing an additional 3,721,519 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Diamondback Energy by 964.6% in 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 purchasing an additional 1,674,336 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Diamondback Energy by 20.1% in the second quarter. JPMorgan Chase & Co. now owns 7,633,723 shares of the oil and natural gas company’s stock worth $677,951,000 after purchasing an additional 1,278,802 shares during the last quarter. Capital World Investors grew its holdings in Diamondback Energy by 98.1% in the second quarter. Capital World Investors now owns 2,516,497 shares of the oil and natural gas company’s stock worth $223,490,000 after purchasing an additional 1,246,072 shares during the last quarter. Finally, Boston Partners grew its holdings in Diamondback Energy by 18.1% in the third quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock worth $771,379,000 after purchasing an additional 1,208,864 shares during the last quarter.
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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