FY2016 EPS Estimates for Diamondback Energy, Inc. Lifted by Seaport Global Securities (FANG)

Diamondback Energy, Inc. (NASDAQ:FANG) – Seaport Global Securities increased their FY2016 earnings per share estimates for shares of Diamondback Energy in a research report issued on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the brokerage will post earnings per share of $1.50 for the year, up from their previous estimate of $1.47. Seaport Global Securities also issued estimates for Diamondback Energy’s Q4 2016 earnings at $0.68 EPS, Q2 2017 earnings at $0.90 EPS, Q3 2017 earnings at $1.00 EPS, Q4 2017 earnings at $1.14 EPS and FY2017 earnings at $3.77 EPS.

FANG has been the topic of a number of other research reports. Nomura reiterated a “buy” rating and set a $17.00 target price on shares of Diamondback Energy in a research note on Monday, September 26th. 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 on the stock. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock 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. Finally, Stephens upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and set a $119.00 target price on the stock in a research note on Monday, October 17th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $102.70.

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

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Diamondback Energy (NASDAQ:FANG) traded up 0.940% during trading on Wednesday, reaching $103.675. The company’s stock had a trading volume of 557,450 shares. Diamondback Energy has a 1-year low of $55.48 and a 1-year high of $113.23. The company’s 50 day moving average price is $103.06 and its 200-day moving average price is $95.78. The stock’s market cap is $8.09 billion.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20. The company had revenue of $142.13 million for the quarter, compared to analyst estimates of $142.58 million. Diamondback Energy had a positive return on equity of 4.26% and a negative net margin of 82.83%. The business’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share.

In related news, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $107.84, for a total value of $431,360.00. Following the completion of the sale, the vice president now directly owns 65,514 shares of the company’s stock, valued at approximately $7,065,029.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Teresa L. Dick sold 2,500 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $111.90, for a total value of $279,750.00. Following the completion of the sale, the chief financial officer now directly owns 20,510 shares of the company’s stock, valued at $2,295,069. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

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A number of hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Diamondback Energy by 8.5% in the second quarter. FMR LLC now owns 8,479,878 shares of the company’s stock worth $773,449,000 after buying an additional 665,001 shares during the last quarter. Boston Partners raised its stake in shares of Diamondback Energy by 8.4% in the third quarter. Boston Partners now owns 7,736,867 shares of the company’s stock worth $746,917,000 after buying an additional 598,307 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Diamondback Energy by 2.1% in the second quarter. Vanguard Group Inc. now owns 5,151,072 shares of the company’s stock worth $469,829,000 after buying an additional 106,359 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Diamondback Energy during the second quarter worth approximately $255,580,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 worth $189,194,000 after buying an additional 167,114 shares during the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

About Diamondback Energy

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.

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