Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Jefferies Group issued their Q3 2017 earnings per share estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Lear forecasts that the oil and natural gas company will post earnings per share of $1.34 for the quarter. Jefferies Group currently has a “Buy” rating and a $124.00 target price on the stock. Jefferies Group also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.65 EPS, Q1 2018 earnings at $1.22 EPS, Q2 2018 earnings at $1.35 EPS, Q3 2018 earnings at $1.63 EPS, Q4 2018 earnings at $1.75 EPS, FY2018 earnings at $5.95 EPS, Q1 2019 earnings at $2.02 EPS, Q2 2019 earnings at $2.19 EPS, Q3 2019 earnings at $2.35 EPS and FY2019 earnings at $9.05 EPS.
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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The business had revenue of $267.40 million during the quarter, compared to the consensus estimate of $258.75 million. During the same period last year, the business posted $0.26 EPS. Diamondback Energy’s revenue was up 137.7% on a year-over-year basis. WARNING: This piece of content was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/10/13/diamondback-energy-inc-expected-to-earn-q3-2017-earnings-of-1-34-per-share-fang.html.
Several other research analysts have also recently weighed in on the stock. KeyCorp restated a “buy” rating and set a $113.00 price target on shares of Diamondback Energy in a report on Thursday. Barclays PLC boosted their price target on shares of Diamondback Energy from $105.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday. BMO Capital Markets set a $110.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Monday. Finally, Stifel Nicolaus set a $129.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $121.09.
In related news, insider Michael L. Hollis sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul Molnar sold 5,000 shares of the company’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 transaction of $475,200.00. Following the sale, the vice president now directly owns 42,563 shares in the company, valued at approximately $4,045,187.52. The disclosure for this sale can be found here. Insiders have sold a total of 11,805 shares of company stock worth $1,129,501 in the last ninety days. 0.41% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Fulton Bank N.A. bought a new stake in Diamondback Energy during the 3rd quarter worth approximately $305,000. Benefit Street Partners LLC bought a new stake in Diamondback Energy during the 2nd quarter worth approximately $3,552,000. Sentry Investment Management LLC bought a new stake in Diamondback Energy during the 2nd quarter worth approximately $215,000. Public Employees Retirement System of Ohio increased its holdings in Diamondback Energy by 4.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 101,673 shares of the oil and natural gas company’s stock worth $9,030,000 after acquiring an additional 4,506 shares during the period. Finally, Energy Opportunities Capital Management LLC increased its holdings in Diamondback Energy by 1.1% during the 2nd quarter. Energy Opportunities Capital Management LLC now owns 16,000 shares of the oil and natural gas company’s stock worth $1,421,000 after acquiring an additional 170 shares during the period.
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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