Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at KeyCorp boosted their Q4 2018 earnings per share (EPS) estimates for shares of Diamondback Energy in a research report issued on Tuesday. KeyCorp analyst C. Stevens now forecasts that the oil and natural gas company will post earnings of $1.58 per share for the quarter, up from their previous forecast of $1.38. KeyCorp currently has a “Overweight” rating and a $125.00 price target on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q1 2019 earnings at $1.74 EPS, Q3 2019 earnings at $2.21 EPS and FY2019 earnings at $8.16 EPS.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.31. The firm had revenue of $301.30 million for the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The firm’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share.
A number of other analysts have also issued reports on the company. Credit Suisse Group began coverage on Diamondback Energy in a research report on Monday. They issued an “outperform” rating and a $123.00 target price on the stock. Northland Securities set a $120.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Monday. Citigroup initiated coverage on Diamondback Energy in a report on Friday, December 1st. They issued a “buy” rating and a $130.00 target price on the stock. Mizuho set a $122.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Saturday, November 25th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $118.00 target price on shares of Diamondback Energy in a report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $125.56.
Shares of Diamondback Energy (NASDAQ:FANG) traded up $0.06 during midday trading on Thursday, reaching $111.59. The company’s stock had a trading volume of 782,000 shares, compared to its average volume of 1,332,695. The stock has a market capitalization of $10,948.60, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 0.81 and a beta of 1.09. 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 $114.93.
In other news, VP Paul Molnar sold 5,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Russell Pantermuehl sold 4,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $96.89, for a total transaction of $387,560.00. Following the sale, the vice president now owns 70,214 shares of the company’s stock, valued at approximately $6,803,034.46. The disclosure for this sale can be found here. Insiders sold 31,400 shares of company stock valued at $3,312,380 in the last 90 days. 0.41% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in FANG. Metropolitan Life Insurance Co. NY boosted its stake in shares of Diamondback Energy by 15.6% during the first quarter. Metropolitan Life Insurance Co. NY now owns 3,468 shares of the oil and natural gas company’s stock worth $360,000 after buying an additional 467 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Diamondback Energy by 33.7% during the second quarter. Janney Montgomery Scott LLC now owns 7,740 shares of the oil and natural gas company’s stock worth $687,000 after buying an additional 1,949 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Diamondback Energy by 5.7% during the second quarter. Great West Life Assurance Co. Can now owns 27,484 shares of the oil and natural gas company’s stock worth $2,439,000 after buying an additional 1,492 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Diamondback Energy by 14.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 288,899 shares of the oil and natural gas company’s stock worth $25,658,000 after buying an additional 37,101 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Diamondback Energy by 23.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 57,633 shares of the oil and natural gas company’s stock worth $5,071,000 after buying an additional 10,815 shares during the period.
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Diamondback Energy Company Profile
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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