Diamondback Energy (NASDAQ:FANG) – Investment analysts at KeyCorp lifted their Q1 2018 earnings per share estimates for Diamondback Energy in a report released on Wednesday, March 14th, Zacks Investment Research reports. KeyCorp analyst C. Stevens now anticipates that the oil and natural gas company will earn $1.53 per share for the quarter, up from their prior estimate of $1.50. KeyCorp has a “Buy” rating and a $137.00 price target on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q2 2018 earnings at $1.58 EPS, Q3 2018 earnings at $1.68 EPS, FY2018 earnings at $6.64 EPS and FY2019 earnings at $9.66 EPS.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Diamondback Energy had a return on equity of 9.63% and a net margin of 40.02%. The business had revenue of $399.19 million during the quarter, compared to analyst estimates of $370.74 million.
A number of other equities research analysts have also issued reports on the company. Piper Jaffray reiterated a “buy” rating and issued a $138.00 target price on shares of Diamondback Energy in a research note on Tuesday, January 9th. Barclays reissued a “buy” rating and issued a $138.00 price target on shares of Diamondback Energy in a report on Sunday, December 24th. BidaskClub raised Diamondback Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Credit Suisse Group began coverage on Diamondback Energy in a report on Monday, December 11th. They issued an “outperform” rating and a $123.00 price target for the company. Finally, Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $141.60.
Shares of FANG stock traded down $7.79 during trading hours on Friday, reaching $116.62. The company had a trading volume of 3,287,086 shares, compared to its average volume of 1,425,231. 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 has a twelve month low of $82.77 and a twelve month high of $134.60. The firm has a market cap of $11,448.24, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 0.65 and a beta of 0.83.
In other Diamondback Energy news, CFO Teresa L. Dick sold 2,500 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $130.97, for a total transaction of $327,425.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael L. Hollis sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $129.34, for a total value of $388,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,431 shares of company stock worth $17,101,852. 0.41% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in shares of Diamondback Energy by 79.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,009 shares of the oil and natural gas company’s stock valued at $534,000 after purchasing an additional 2,659 shares during the period. Nationwide Fund Advisors increased its position in shares of Diamondback Energy by 5.7% during the 3rd quarter. Nationwide Fund Advisors now owns 130,254 shares of the oil and natural gas company’s stock valued at $12,760,000 after purchasing an additional 7,000 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Diamondback Energy during the 3rd quarter valued at $206,000. American Century Companies Inc. increased its position in shares of Diamondback Energy by 7.2% during the 3rd quarter. American Century Companies Inc. now owns 16,854 shares of the oil and natural gas company’s stock valued at $1,651,000 after purchasing an additional 1,129 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Diamondback Energy by 400.0% during the 3rd quarter. Prudential Financial Inc. now owns 27,251 shares of the oil and natural gas company’s stock valued at $2,669,000 after purchasing an additional 21,801 shares during the period.
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About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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