Diamondback Energy Inc (NASDAQ:FANG) – Equities researchers at Piper Jaffray Companies increased their FY2018 earnings per share estimates for shares of Diamondback Energy in a research report issued on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now anticipates that the oil and natural gas company will post earnings per share of $6.80 for the year, up from their prior estimate of $6.73. Piper Jaffray Companies currently has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for Diamondback Energy’s Q4 2018 earnings at $1.85 EPS, Q1 2019 earnings at $1.48 EPS, Q2 2019 earnings at $1.60 EPS, Q3 2019 earnings at $1.81 EPS, Q4 2019 earnings at $1.99 EPS, FY2019 earnings at $6.88 EPS, Q1 2020 earnings at $2.30 EPS, Q2 2020 earnings at $2.49 EPS, Q3 2020 earnings at $2.67 EPS, Q4 2020 earnings at $2.84 EPS and FY2020 earnings at $10.30 EPS.
A number of other brokerages have also weighed in on FANG. Zacks Investment Research reaffirmed a “hold” rating on shares of Diamondback Energy in a research note on Tuesday, November 13th. Oppenheimer reaffirmed a “buy” rating on shares of Diamondback Energy in a research note on Tuesday, November 6th. Williams Capital set a $171.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Wednesday, November 7th. Morgan Stanley set a $171.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Friday, October 12th. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $140.00 price target (down from $170.00) on shares of Diamondback Energy in a research note on Thursday, December 20th. Three analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $156.31.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.15. The firm had revenue of $538.03 million for the quarter, compared to analyst estimates of $518.32 million. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. Diamondback Energy’s quarterly revenue was up 78.6% compared to the same quarter last year. During the same period last year, the company posted $1.33 EPS.
In other news, VP Hof Matthew Kaes Van’t sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, December 20th. The shares were sold at an average price of $89.91, for a total transaction of $89,910.00. Following the sale, the vice president now owns 5,757 shares of the company’s stock, valued at approximately $517,611.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Webster Bank N. A. purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $36,000. Point72 Hong Kong Ltd acquired a new stake in Diamondback Energy in the 3rd quarter valued at approximately $100,000. Belpointe Asset Management LLC acquired a new stake in Diamondback Energy in the 3rd quarter valued at approximately $113,000. Bray Capital Advisors acquired a new stake in Diamondback Energy in the 3rd quarter valued at approximately $116,000. Finally, First Hawaiian Bank acquired a new stake in Diamondback Energy in the 3rd quarter valued at approximately $121,000.
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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