Capital One Financial Corporation Weighs in on Diamondback Energy, Inc.’s FY2017 Earnings (FANG)

Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Capital One Financial Corporation upped their FY2017 earnings estimates for Diamondback Energy in a research note issued on Wednesday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and natural gas company will post earnings per share of $5.08 for the year, up from their prior forecast of $5.07.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The firm had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same quarter in the prior year, the company earned ($0.03) EPS. Diamondback Energy’s revenue was up 112.0% on a year-over-year basis.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/11/12/capital-one-financial-corporation-weighs-in-on-diamondback-energy-inc-s-fy2017-earnings-fang.html.

Several other equities analysts have also issued reports on FANG. Zacks Investment Research lowered Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Northland Securities set a $125.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, July 17th. Imperial Capital began coverage on Diamondback Energy in a research report on Tuesday, July 18th. They issued an “outperform” rating and a $110.00 price target on the stock. BidaskClub raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Bank of America Corporation began coverage on Diamondback Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the stock. Diamondback Energy has an average rating of “Buy” and a consensus target price of $123.96.

Diamondback Energy (NASDAQ:FANG) opened at $111.86 on Friday. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $114.93. The company has a current ratio of 0.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $10,980.96, a PE ratio of 23.95, a P/E/G ratio of 0.82 and a beta of 1.10.

In related news, insider Michael L. Hollis sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,805 shares of company stock worth $1,449,381 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its position in Diamondback Energy by 8.4% during the 1st quarter. Prudential Financial Inc. now owns 4,890 shares of the oil and natural gas company’s stock worth $507,000 after acquiring an additional 380 shares during the period. American International Group Inc. lifted its position in Diamondback Energy by 5.8% during the 1st quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after acquiring an additional 126 shares during the period. Principal Financial Group Inc. lifted its position in Diamondback Energy by 18.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,937 shares of the oil and natural gas company’s stock worth $1,342,000 after acquiring an additional 1,978 shares during the period. Dimensional Fund Advisors LP lifted its position in Diamondback Energy by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 383,533 shares of the oil and natural gas company’s stock worth $39,773,000 after acquiring an additional 13,011 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its position in Diamondback Energy by 15.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 3,468 shares of the oil and natural gas company’s stock worth $360,000 after acquiring an additional 467 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.

Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply