Diamondback Energy Inc. (NASDAQ:FANG) – Equities researchers at KeyCorp boosted their Q3 2016 earnings estimates for shares of Diamondback Energy in a note issued to investors on Monday. KeyCorp analyst C. Stevens now anticipates that the firm will post earnings per share of $0.47 for the quarter, up from their previous estimate of $0.40. KeyCorp has a “Overweight” rating and a $110.00 price objective on the stock. KeyCorp also issued estimates for Diamondback Energy’s Q4 2016 earnings at $0.67 EPS and FY2016 earnings at $1.46 EPS.
FANG has been the topic of a number of other reports. Mizuho began coverage on Diamondback Energy in a report on Wednesday, October 5th. They set a “buy” rating and a $105.00 price target on the stock. Canaccord Genuity upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, July 20th. Nomura reiterated a “buy” rating and set a $17.00 price target on shares of Diamondback Energy in a report on Monday, September 26th. Deutsche Bank AG reiterated a “buy” rating and set a $104.00 price target on shares of Diamondback Energy in a report on Thursday, August 4th. Finally, KLR Group lifted their price target on Diamondback Energy from $126.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday. Seven 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. Diamondback Energy has an average rating of “Buy” and a consensus target price of $98.28.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 104.54 on Tuesday. The stock’s 50 day moving average price is $94.53 and its 200 day moving average price is $89.42. The firm’s market capitalization is $8.16 billion. Diamondback Energy has a 12-month low of $55.48 and a 12-month high of $106.84.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.10. The company had revenue of $112.48 million for the quarter, compared to analyst estimates of $112.47 million. Diamondback Energy had a positive return on equity of 3.82% and a negative net margin of 124.95%. Diamondback Energy’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Creative Planning raised its position in Diamondback Energy by 7.3% in the third quarter. Creative Planning now owns 1,073 shares of the company’s stock worth $104,000 after buying an additional 73 shares during the last quarter. Cupps Capital Management LLC raised its position in Diamondback Energy by 23.5% in the third quarter. Cupps Capital Management LLC now owns 9,050 shares of the company’s stock worth $873,000 after buying an additional 1,720 shares during the last quarter. Foundry Partners LLC acquired a new position in Diamondback Energy during the third quarter worth approximately $203,000. Copper Rock Capital Partners LLC raised its position in Diamondback Energy by 13.2% in the third quarter. Copper Rock Capital Partners LLC now owns 4,253 shares of the company’s stock worth $406,000 after buying an additional 497 shares during the last quarter. Finally, Fulton Bank N.A. raised its position in Diamondback Energy by 10.1% in the third quarter. Fulton Bank N.A. now owns 2,871 shares of the company’s stock worth $277,000 after buying an additional 264 shares during the last quarter. 99.74% of the stock is owned by institutional investors and hedge funds.
In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $98.00, for a total transaction of $2,940,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael L. Hollis sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $104.00, for a total value of $1,040,000.00. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
Diamondback Energy Company Profile