Diamondback Energy Inc (NASDAQ:FANG) – Analysts at SunTrust Banks raised their FY2017 EPS estimates for Diamondback Energy in a research note issued on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will post earnings per share of $5.14 for the year, up from their prior estimate of $5.07. SunTrust Banks has a “Buy” rating and a $130.00 price objective on the stock. SunTrust Banks also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.51 EPS.
Other research analysts have also issued reports about the stock. B. Riley began coverage on shares of Diamondback Energy in a report on Monday. They issued a “neutral” rating and a $150.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Diamondback Energy to $164.00 and set an “overweight” rating for the company in a report on Wednesday. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 price objective for the company in a report on Wednesday, January 17th. BidaskClub lowered shares of Diamondback Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, January 26th. Finally, Deutsche Bank began coverage on shares of Diamondback Energy in a research report on Thursday, February 1st. They issued a “buy” rating and a $162.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $135.11.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The business had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. During the same period in the prior year, the business earned ($0.03) EPS. The company’s revenue for the quarter was up 112.0% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the stock. Boston Partners boosted its holdings in shares of Diamondback Energy by 18.1% during the 3rd quarter. Boston Partners now owns 7,874,429 shares of the oil and natural gas company’s stock valued at $771,379,000 after acquiring an additional 1,208,864 shares during the last quarter. State Street Corp boosted its holdings in shares of Diamondback Energy by 8.3% during the 2nd quarter. State Street Corp now owns 2,192,372 shares of the oil and natural gas company’s stock valued at $194,707,000 after acquiring an additional 168,604 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Diamondback Energy by 15.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,141,967 shares of the oil and natural gas company’s stock valued at $209,827,000 after acquiring an additional 294,048 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Diamondback Energy by 2.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,706,199 shares of the oil and natural gas company’s stock valued at $167,139,000 after acquiring an additional 33,582 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 10.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,529,601 shares of the oil and natural gas company’s stock valued at $193,111,000 after acquiring an additional 145,951 shares during the last quarter.
In related news, VP Russell Pantermuehl sold 1,400 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $111.10, for a total transaction of $155,540.00. Following the sale, the vice president now directly owns 60,814 shares of the company’s stock, valued at approximately $6,756,435.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Teresa L. Dick sold 1,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $112.13, for a total transaction of $112,130.00. Following the sale, the chief financial officer now directly owns 30,760 shares in the company, valued at $3,449,118.80. The disclosure for this sale can be found here. Insiders have sold a total of 68,400 shares of company stock worth $8,337,200 over the last three months. 0.41% of the stock is currently owned by insiders.
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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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