Diamondback Energy (FANG) Forecasted to Post Q1 2018 Earnings of $1.87 Per Share

Diamondback Energy (NASDAQ:FANG) – Investment analysts at Imperial Capital raised their Q1 2018 earnings per share estimates for shares of Diamondback Energy in a research note issued on Thursday, April 12th. Imperial Capital analyst J. Wangler now expects that the oil and natural gas company will earn $1.87 per share for the quarter, up from their prior estimate of $1.57. Imperial Capital also issued estimates for Diamondback Energy’s Q2 2018 earnings at $1.68 EPS, Q3 2018 earnings at $1.89 EPS, Q4 2018 earnings at $2.03 EPS and FY2018 earnings at $7.47 EPS.

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Several other equities research analysts also recently weighed in on FANG. BidaskClub downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Stifel Nicolaus set a $169.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Piper Jaffray reaffirmed a “buy” rating and set a $141.00 target price on shares of Diamondback Energy in a research note on Friday, April 6th. ValuEngine downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, UBS assumed coverage on shares of Diamondback Energy in a research note on Wednesday, March 7th. They set a “buy” rating and a $155.00 target price on the stock. Five research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and an average target price of $141.68.

Shares of FANG opened at $119.04 on Monday. Diamondback Energy has a fifty-two week low of $82.77 and a fifty-two week high of $134.60. The company has a market cap of $11,652.46, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 0.66 and a beta of 0.82. The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 0.26.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. The firm had revenue of $399.19 million for the quarter, compared to the consensus estimate of $370.74 million.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB grew its position in shares of Diamondback Energy by 17.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 9,617 shares of the oil and natural gas company’s stock valued at $1,214,000 after buying an additional 1,452 shares during the last quarter. Ashburton Jersey Ltd grew its position in shares of Diamondback Energy by 20.6% in the 4th quarter. Ashburton Jersey Ltd now owns 22,276 shares of the oil and natural gas company’s stock valued at $2,812,000 after buying an additional 3,800 shares during the last quarter. Delek Group Ltd. purchased a new position in shares of Diamondback Energy in the 4th quarter valued at $6,303,000. William Blair Investment Management LLC grew its position in shares of Diamondback Energy by 24.8% in the 4th quarter. William Blair Investment Management LLC now owns 851,819 shares of the oil and natural gas company’s stock valued at $107,542,000 after buying an additional 169,321 shares during the last quarter. Finally, BB&T Securities LLC grew its position in shares of Diamondback Energy by 479.0% in the 4th quarter. BB&T Securities LLC now owns 16,657 shares of the oil and natural gas company’s stock valued at $2,103,000 after buying an additional 13,780 shares during the last quarter.

In related news, VP Randall J. Holder sold 7,120 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.15, for a total value of $883,948.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Teresa L. Dick sold 2,500 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $130.97, for a total transaction of $327,425.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,431 shares of company stock worth $16,713,832. Insiders own 0.41% of the company’s stock.

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Diamondback Energy Company Profile

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.

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

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