Diamondback Energy, Inc. (NASDAQ:FANG) – Research analysts at Williams Capital dropped their FY2016 earnings per share estimates for shares of Diamondback Energy in a report issued on Tuesday. Williams Capital analyst G. Sorbara now forecasts that the firm will earn $1.38 per share for the year, down from their previous estimate of $1.52. Williams Capital currently has a “Hold” rating and a $112.00 target price on the stock. Williams Capital also issued estimates for Diamondback Energy’s Q4 2016 earnings at $0.51 EPS and FY2017 earnings at $3.29 EPS.
FANG has been the subject of a number of other reports. Mizuho started coverage on Diamondback Energy in a research note on Wednesday, October 5th. They set a “buy” rating and a $105.00 target price for the company. Zacks Investment Research raised Diamondback Energy from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Thursday, October 13th. Barclays PLC increased their target price on Diamondback Energy from $88.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 11th. Stephens raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and set a $119.00 target price for the company in a research note on Monday, October 17th. Finally, KLR Group increased their target price on Diamondback Energy from $126.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $106.24.
Shares of Diamondback Energy (NASDAQ:FANG) traded down 0.15% during mid-day trading on Friday, hitting $106.54. 198,639 shares of the stock were exchanged. Diamondback Energy has a 12-month low of $63.76 and a 12-month high of $113.23. The firm has a 50-day moving average price of $103.12 and a 200 day moving average price of $96.96. The company’s market capitalization is $8.32 billion.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.20. Diamondback Energy had a negative net margin of 82.83% and a positive return on equity of 4.26%. The business earned $142.13 million during the quarter, compared to analysts’ expectations of $142.58 million. During the same period in the previous year, the company earned $0.40 earnings per share. Diamondback Energy’s revenue for the quarter was up 27.0% on a year-over-year basis.
In other Diamondback Energy news, VP Russell Pantermuehl sold 4,000 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $107.84, for a total transaction of $431,360.00. Following the transaction, the vice president now owns 65,514 shares in the company, valued at approximately $7,065,029.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Teresa L. Dick sold 2,500 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $111.90, for a total value of $279,750.00. Following the transaction, the chief financial officer now owns 20,510 shares in the company, valued at approximately $2,295,069. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock valued at $773,449,000 after buying an additional 665,001 shares during the last quarter. Boston Partners boosted its position in Diamondback Energy by 8.4% in the third quarter. Boston Partners now owns 7,736,867 shares of the company’s stock valued at $746,917,000 after buying an additional 598,307 shares during the last quarter. Vanguard Group Inc. boosted its position in Diamondback Energy by 2.1% in the second quarter. Vanguard Group Inc. now owns 5,151,072 shares of the company’s stock valued at $469,829,000 after buying an additional 106,359 shares during the last quarter. Winslow Capital Management LLC purchased a new position in Diamondback Energy during the second quarter valued at $255,580,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Diamondback Energy by 9.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,959,747 shares of the company’s stock valued at $189,194,000 after buying an additional 167,114 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.