Diamondback Energy (NASDAQ:FANG) – Research analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for Diamondback Energy in a research report issued on Sunday, April 22nd. KeyCorp analyst D. Deckelbaum forecasts that the oil and natural gas company will earn $1.60 per share for the quarter. KeyCorp currently has a “Buy” rating and a $140.00 target price on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q2 2018 earnings at $1.36 EPS, Q3 2018 earnings at $1.49 EPS, Q4 2018 earnings at $1.66 EPS, FY2018 earnings at $6.12 EPS, Q1 2019 earnings at $1.91 EPS, Q2 2019 earnings at $2.13 EPS, Q3 2019 earnings at $2.47 EPS, Q4 2019 earnings at $2.66 EPS and FY2019 earnings at $9.17 EPS.
A number of other equities analysts have also recently weighed in on FANG. Piper Jaffray reissued a “buy” rating and issued a $143.00 price objective on shares of Diamondback Energy in a research report on Wednesday, April 18th. BidaskClub cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Stifel Nicolaus set a $167.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday. Morgan Stanley decreased their price objective on shares of Diamondback Energy to $159.00 and set an “overweight” rating for the company in a research report on Friday, April 20th. Finally, ValuEngine cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $141.60.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. The company 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 other news, COO Michael L. Hollis sold 29,745 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $125.21, for a total transaction of $3,724,371.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Teresa L. Dick sold 6,733 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $125.32, for a total transaction of $843,779.56. Following the transaction, the chief financial officer now directly owns 36,287 shares in the company, valued at approximately $4,547,486.84. The disclosure for this sale can be found here. Insiders have sold 136,431 shares of company stock worth $17,070,232 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Castleark Management LLC lifted its holdings in Diamondback Energy by 127.1% in the fourth quarter. Castleark Management LLC now owns 113,983 shares of the oil and natural gas company’s stock worth $14,390,000 after acquiring an additional 63,801 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Diamondback Energy by 25.7% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 15,287 shares of the oil and natural gas company’s stock worth $1,930,000 after acquiring an additional 3,126 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Diamondback Energy by 12.5% in the fourth quarter. California Public Employees Retirement System now owns 209,415 shares of the oil and natural gas company’s stock worth $26,439,000 after acquiring an additional 23,254 shares during the last quarter. Gradient Investments LLC bought a new position in Diamondback Energy in the fourth quarter worth about $517,000. Finally, Sei Investments Co. lifted its holdings in Diamondback Energy by 33.7% in the fourth quarter. Sei Investments Co. now owns 157,323 shares of the oil and natural gas company’s stock worth $19,863,000 after acquiring an additional 39,657 shares during the last quarter.
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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.
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