Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at Jefferies Group boosted their Q1 2018 earnings per share (EPS) estimates for Diamondback Energy in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Jefferies Group analyst M. Lear now forecasts that the oil and natural gas company will earn $1.37 per share for the quarter, up from their prior forecast of $1.22. Jefferies Group currently has a “Buy” rating and a $124.00 price target on the stock. Jefferies Group also issued estimates for Diamondback Energy’s Q2 2018 earnings at $1.56 EPS.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results 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. The firm had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The business’s revenue for the quarter was up 112.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS.
FANG has been the subject of several other reports. BidaskClub raised Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Barclays boosted their price target on Diamondback Energy from $105.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 11th. Zacks Investment Research lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Citigroup began coverage on Diamondback Energy in a research report on Friday, December 1st. They set a “buy” rating and a $130.00 target price on the stock. Finally, Northland Securities reaffirmed a “buy” rating and set a $125.00 target price on shares of Diamondback Energy in a research report on Tuesday, September 26th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $125.42.
Diamondback Energy (NASDAQ:FANG) traded up $0.24 on Friday, hitting $130.14. The stock had a trading volume of 1,031,170 shares, compared to its average volume of 1,130,000. The company has a market cap of $12,770.00, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 0.74 and a beta of 1.08. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22. Diamondback Energy has a 52-week low of $82.77 and a 52-week high of $132.07.
In other Diamondback Energy news, CFO Teresa L. Dick sold 5,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $111.79, for a total transaction of $558,950.00. Following the sale, the chief financial officer now owns 31,760 shares in the company, valued at approximately $3,550,450.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Travis D. Stice sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total value of $4,375,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,400 shares of company stock worth $9,361,210. Company insiders own 0.41% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FANG. FMR LLC boosted its stake in shares of Diamondback Energy by 1.6% in the second quarter. FMR LLC now owns 11,609,146 shares of the oil and natural gas company’s stock worth $1,031,009,000 after buying an additional 185,890 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Diamondback Energy by 8.9% in the second quarter. Vanguard Group Inc. now owns 7,988,153 shares of the oil and natural gas company’s stock worth $709,428,000 after buying an additional 651,353 shares during the last quarter. Boston Partners boosted its stake in shares of 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 buying an additional 1,208,864 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 buying an additional 1,278,802 shares during the last quarter. Finally, Warburg Pincus LLC boosted its stake in shares of 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 buying an additional 3,721,519 shares during the last quarter.
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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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