Diamondback Energy Inc (NASDAQ:FANG) – Imperial Capital cut their FY2019 earnings per share estimates for shares of Diamondback Energy in a research note issued to investors on Thursday. Imperial Capital analyst J. Wangler now expects that the oil and natural gas company will post earnings of $10.86 per share for the year, down from their previous forecast of $10.91. Imperial Capital currently has a “Outperform” rating and a $130.00 price objective on the stock.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.16. The firm had revenue of $399.19 million for the quarter, compared to the consensus estimate of $370.74 million. Diamondback Energy had a return on equity of 9.74% and a net margin of 40.02%.
Several other analysts also recently issued reports on the company. Barclays restated a “buy” rating and set a $138.00 price objective on shares of Diamondback Energy in a report on Sunday, December 24th. Piper Jaffray Companies restated a “buy” rating and set a $138.00 price objective on shares of Diamondback Energy in a report on Tuesday, January 9th. KeyCorp restated an “overweight” rating and set a $125.00 price objective (up previously from $117.00) on shares of Diamondback Energy in a report on Tuesday, November 7th. BidaskClub upgraded Diamondback Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Finally, Credit Suisse Group started coverage on Diamondback Energy in a report on Monday, December 11th. They set an “outperform” rating and a $123.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $137.60.
Diamondback Energy (NASDAQ:FANG) traded down $1.27 during midday trading on Friday, reaching $123.88. The company’s stock had a trading volume of 1,697,104 shares, compared to its average volume of 1,522,983. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22. The firm has a market cap of $12,285.64, a P/E ratio of 24.93, a PEG ratio of 0.68 and a beta of 0.91. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $134.52.
Large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors acquired a new position in Diamondback Energy in the fourth quarter worth approximately $149,000. IFP Advisors Inc increased its holdings in Diamondback Energy by 42.6% in the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock worth $164,000 after buying an additional 389 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Diamondback Energy by 476.3% in the fourth 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 buying an additional 1,167 shares during the last quarter. KCS Wealth Advisory acquired a new position in Diamondback Energy in the fourth quarter worth approximately $202,000. Finally, Dearborn Partners LLC acquired a new position in Diamondback Energy in the fourth quarter worth approximately $208,000.
In related news, CEO Travis D. Stice sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total value of $4,375,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Russell Pantermuehl sold 1,400 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $111.10, for a total value of $155,540.00. Following the completion of the transaction, the vice president now owns 60,814 shares in the company, valued at approximately $6,756,435.40. The disclosure for this sale can be found here. Insiders sold a total of 68,400 shares of company stock worth $8,337,200 in the last quarter. 0.41% of the stock is owned by corporate insiders.
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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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