Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at B. Riley dropped their FY2018 earnings per share estimates for shares of Diamondback Energy in a report issued on Thursday. B. Riley analyst R. Rashid now forecasts that the oil and natural gas company will earn $6.08 per share for the year, down from their previous 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.
Several other research firms have also recently issued reports on FANG. Credit Suisse Group set a $143.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on shares of Diamondback Energy from $138.00 to $167.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $138.00 price objective on shares of Diamondback Energy in a research report on Tuesday, January 9th. Stifel Nicolaus set a $149.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, Mizuho set a $148.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $137.60.
Shares of Diamondback Energy (NASDAQ FANG) opened at $123.88 on Monday. The stock has a market cap of $12,160.96, a price-to-earnings ratio of 23.24, a PEG ratio of 0.69 and a beta of 0.91. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $134.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.61 and a current ratio of 0.62.
Diamondback Energy (NASDAQ:FANG) last released 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 business had revenue of $399.19 million during the quarter, compared to analysts’ expectations of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%.
In related news, insider Michael L. Hollis sold 10,000 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Russell Pantermuehl sold 1,400 shares of Diamondback Energy stock in a transaction on Monday, December 4th. The shares were sold at an average price of $111.10, for a total transaction of $155,540.00. Following the completion of the transaction, the vice president now owns 60,814 shares in the company, valued at $6,756,435.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,400 shares of company stock valued at $8,337,200. 0.41% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors acquired a new position in Diamondback Energy in the fourth quarter valued at $149,000. IFP Advisors Inc increased its stake 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 valued at $164,000 after purchasing an additional 389 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake 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 valued at $178,000 after purchasing an additional 1,167 shares during the period. Cubist Systematic Strategies LLC increased its stake in Diamondback Energy by 46.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares during the period. Finally, KCS Wealth Advisory acquired a new position in Diamondback Energy in the fourth quarter valued at $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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