Q3 2018 Earnings Estimate for Diamondback Energy Inc (FANG) Issued By SunTrust Banks

Diamondback Energy Inc (NASDAQ:FANG) – Equities researchers at SunTrust Banks increased their Q3 2018 earnings per share estimates for shares of Diamondback Energy in a research report issued on Monday, November 5th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will post earnings per share of $1.74 for the quarter, up from their prior estimate of $1.67. SunTrust Banks currently has a “Buy” rating and a $175.00 price objective on the stock. SunTrust Banks also issued estimates for Diamondback Energy’s FY2018 earnings at $6.86 EPS, FY2019 earnings at $10.82 EPS and FY2020 earnings at $16.01 EPS.

A number of other equities research analysts also recently commented on the company. Morgan Stanley set a $171.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Friday, October 12th. KLR Group reissued a “buy” rating and issued a $211.00 target price on shares of Diamondback Energy in a report on Monday, August 20th. BidaskClub raised Diamondback Energy from a “hold” rating to a “buy” rating in a report on Friday, September 21st. TD Securities set a $175.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Saturday, August 11th. Finally, ValuEngine downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $156.45.

Diamondback Energy stock opened at $113.37 on Wednesday. Diamondback Energy has a one year low of $105.66 and a one year high of $140.78. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.54 and a quick ratio of 0.52. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 0.72 and a beta of 0.70.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The company had revenue of $538.03 million during the quarter, compared to the consensus estimate of $518.32 million. During the same quarter last year, the company earned $1.33 earnings per share. Diamondback Energy’s quarterly revenue was up 78.6% compared to the same quarter last year.

In other news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the transaction, the vice president now owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.57% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FANG. Captrust Financial Advisors increased its position in Diamondback Energy by 99.8% during the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after purchasing an additional 497 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its position in Diamondback Energy by 13.2% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 4,300 shares of the oil and natural gas company’s stock worth $566,000 after purchasing an additional 500 shares in the last quarter. CWM LLC increased its position in Diamondback Energy by 5.8% during the 3rd quarter. CWM LLC now owns 9,443 shares of the oil and natural gas company’s stock worth $1,277,000 after purchasing an additional 520 shares in the last quarter. Dana Investment Advisors Inc. increased its position in Diamondback Energy by 1.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 32,945 shares of the oil and natural gas company’s stock worth $4,335,000 after purchasing an additional 572 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Diamondback Energy by 6.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 9,195 shares of the oil and natural gas company’s stock worth $1,243,000 after purchasing an additional 595 shares in the last quarter.

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

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