Diamondback Energy Inc (NASDAQ:FANG) – B. Riley cut their FY2018 earnings estimates for shares of Diamondback Energy in a report released on Thursday. B. Riley analyst R. Rashid now expects that the oil and natural gas company will earn $6.08 per share for the year, down from their prior estimate of $6.76. B. Riley currently has a “Neutral” rating and a $150.00 target price on the stock. B. Riley also issued estimates for Diamondback Energy’s Q2 2019 earnings at $2.15 EPS, Q3 2019 earnings at $2.43 EPS, Q4 2019 earnings at $2.59 EPS and FY2019 earnings at $9.16 EPS.
A number of other equities analysts have also recently commented on the stock. Barclays reissued a “buy” rating and issued a $138.00 price target on shares of Diamondback Energy in a research note on Sunday, December 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $138.00 price target on shares of Diamondback Energy in a research note on Tuesday, January 9th. KeyCorp reissued an “overweight” rating and issued a $125.00 price target (up previously from $117.00) on shares of Diamondback Energy in a research note on Tuesday, November 7th. BidaskClub raised shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Credit Suisse Group began coverage on shares of Diamondback Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $123.00 price objective for the company. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $137.60.
Diamondback Energy (FANG) traded down $1.07 during mid-day trading on Monday, reaching $122.81. 1,276,800 shares of the company’s stock were exchanged, compared to its average volume of 1,405,428. The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 0.26. Diamondback Energy has a fifty-two week low of $82.77 and a fifty-two week high of $134.52. The stock has a market cap of $12,160.96, a PE ratio of 23.24, a PEG ratio of 0.69 and a beta of 0.91.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. The business had revenue of $399.19 million during the quarter, compared to analysts’ expectations of $370.74 million.
In other Diamondback Energy news, CEO Travis D. Stice sold 35,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $4,375,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael L. Hollis sold 10,000 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 68,400 shares of company stock valued at $8,337,200 in the last three months. 0.41% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in FANG. Captrust Financial Advisors purchased a new stake in Diamondback Energy during the 4th quarter valued at $149,000. IFP Advisors Inc boosted its position in Diamondback Energy by 42.6% during the 4th quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock valued at $164,000 after buying an additional 389 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Diamondback Energy by 476.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock worth $178,000 after purchasing an additional 1,167 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Diamondback Energy by 46.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock worth $195,000 after purchasing an additional 700 shares in the last quarter. Finally, KCS Wealth Advisory bought a new position in Diamondback Energy in the 4th quarter worth $202,000.
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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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