Brokerages expect Diamondback Energy, Inc. (NASDAQ:FANG) to report earnings of $1.24 per share for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Diamondback Energy’s earnings. The lowest EPS estimate is $0.74 and the highest is $1.53. Diamondback Energy reported earnings of $0.54 per share during the same quarter last year, which would indicate a positive year over year growth rate of 129.6%. The company is scheduled to report its next earnings results after the market closes on Monday, November 6th.
On average, analysts expect that Diamondback Energy will report full-year earnings of $5.01 per share for the current fiscal year, with EPS estimates ranging from $4.54 to $5.25. For the next year, analysts forecast that the company will post earnings of $5.92 per share, with EPS estimates ranging from $2.70 to $8.12. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The business had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. During the same period last year, the business earned $0.26 EPS. The business’s revenue was up 137.7% on a year-over-year basis.
Several research firms have commented on FANG. Morgan Stanley boosted their target price on Diamondback Energy from $118.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Williams Capital boosted their target price on Diamondback Energy from $110.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday. SunTrust Banks, Inc. set a $120.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company set a $120.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday. Finally, KeyCorp reissued a “buy” rating and issued a $113.00 target price on shares of Diamondback Energy in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $122.13.
In other Diamondback Energy news, VP Paul Molnar sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the completion of the sale, the vice president now owns 42,563 shares in the company, valued at $4,045,187.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael L. Hollis sold 2,000 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $102.44, for a total value of $204,880.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,805 shares of company stock valued at $1,239,381. 0.41% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Artisan Partners Limited Partnership increased its position 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 buying an additional 1,674,336 shares in the last quarter. Harbour Capital Advisors LLC increased its position in Diamondback Energy by 8,536.0% in the second quarter. Harbour Capital Advisors LLC now owns 767,052 shares of the oil and natural gas company’s stock worth $8,637,000 after buying an additional 758,170 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Diamondback Energy by 97.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 14,739 shares of the oil and natural gas company’s stock worth $1,529,000 after buying an additional 7,269 shares in the last quarter. Bank of New York Mellon Corp increased its position in Diamondback Energy by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 831,952 shares of the oil and natural gas company’s stock worth $73,887,000 after buying an additional 62,224 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Diamondback Energy by 17.5% in the second quarter. Legal & General Group Plc now owns 104,274 shares of the oil and natural gas company’s stock worth $9,260,000 after buying an additional 15,527 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.
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Shares of Diamondback Energy (NASDAQ FANG) traded down 0.729% during trading on Thursday, reaching $101.445. The company’s stock had a trading volume of 117,809 shares. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The firm has a market cap of $9.96 billion, a P/E ratio of 27.892 and a beta of 1.08. The stock’s 50 day moving average is $96.42 and its 200 day moving average is $95.13.
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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