Diamondback Energy Inc. (NASDAQ:FANG) – KeyCorp issued their Q3 2018 EPS estimates for Diamondback Energy in a report released on Tuesday. KeyCorp analyst C. Stevens forecasts that the brokerage will earn $1.68 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $110.00 target price on the stock.
Several other equities analysts also recently commented on the company. Simmons restated an “overweight” rating and set a $109.00 target price (up previously from $106.00) on shares of Diamondback Energy in a research report on Saturday, August 13th. Zacks Investment Research downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 30th. Canaccord Genuity restated a “buy” rating and set a $116.00 target price (up previously from $103.00) on shares of Diamondback Energy in a research report on Tuesday, October 11th. KLR Group raised their target price on Diamondback Energy from $126.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, October 11th. Finally, Barclays PLC raised their target price on Diamondback Energy from $88.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 11th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $101.50.
Shares of Diamondback Energy (NASDAQ:FANG) traded down 1.60% on Thursday, reaching $99.16. The company had a trading volume of 145,351 shares. The firm’s market cap is $7.74 billion. Diamondback Energy has a one year low of $55.48 and a one year high of $106.84. The company has a 50-day moving average price of $97.68 and a 200-day moving average price of $92.73.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 7th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.20. Diamondback Energy had a positive return on equity of 4.26% and a negative net margin of 82.83%. The business earned $142.13 million during the quarter, compared to analysts’ expectations of $142.58 million. During the same quarter last year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis.
In other Diamondback Energy news, COO Michael L. Hollis sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $104.00, for a total transaction of $1,040,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Elizabeth Moses sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $88.66, for a total value of $177,320.00. Following the transaction, the vice president now directly owns 11,709 shares in the company, valued at approximately $1,038,119.94. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FANG. Prudential Financial Inc. increased its position in shares of Diamondback Energy by 113.6% in the first quarter. Prudential Financial Inc. now owns 7,328 shares of the company’s stock worth $565,000 after buying an additional 3,898 shares during the period. Nuveen Asset Management LLC increased its position in shares of Diamondback Energy by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 23,811 shares of the company’s stock worth $1,838,000 after buying an additional 744 shares during the period. Barclays PLC increased its position in shares of Diamondback Energy by 353.8% in the first quarter. Barclays PLC now owns 21,553 shares of the company’s stock worth $1,660,000 after buying an additional 16,804 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Diamondback Energy during the first quarter worth $1,544,000. Finally, Avalon Advisors LLC increased its position in shares of Diamondback Energy by 22.6% in the first quarter. Avalon Advisors LLC now owns 27,612 shares of the company’s stock worth $2,131,000 after buying an additional 5,091 shares during the period.
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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