Diamondback Energy Inc (NASDAQ:FANG) – US Capital Advisors dropped their Q1 2019 earnings per share estimates for shares of Diamondback Energy in a note issued to investors on Monday, April 22nd. US Capital Advisors analyst C. Horwitz now anticipates that the oil and natural gas company will post earnings of $2.14 per share for the quarter, down from their prior estimate of $2.46. US Capital Advisors also issued estimates for Diamondback Energy’s Q2 2020 earnings at $5.08 EPS, FY2020 earnings at $20.53 EPS and FY2021 earnings at $23.15 EPS.
Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $148.00 target price on shares of Diamondback Energy in a report on Monday, March 11th. ValuEngine raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Tuesday. KeyCorp lifted their target price on Diamondback Energy from $116.00 to $124.00 and gave the company an “overweight” rating in a report on Monday. Roth Capital set a $166.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley boosted their price objective on Diamondback Energy from $147.00 to $154.00 and gave the stock an “overweight” rating in a report on Thursday, February 21st. Three equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and an average target price of $159.91.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.41). The company had revenue of $633.06 million for the quarter, compared to analysts’ expectations of $663.21 million. Diamondback Energy had a net margin of 38.84% and a return on equity of 7.83%.
In other news, insider Michael L. Hollis bought 5,313 shares of the business’s stock in a transaction on Friday, March 8th. The stock was acquired at an average price of $95.12 per share, with a total value of $505,372.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $101.82, for a total value of $173,094.00. Following the completion of the sale, the chief financial officer now directly owns 28,965 shares of the company’s stock, valued at approximately $2,949,216.30. The disclosure for this sale can be found here. Insiders have sold 6,050 shares of company stock valued at $626,158 in the last three months. 0.57% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System grew its stake in Diamondback Energy by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the oil and natural gas company’s stock worth $833,000 after purchasing an additional 100 shares during the period. Fruth Investment Management raised its stake in shares of Diamondback Energy by 5.2% in the 1st quarter. Fruth Investment Management now owns 2,301 shares of the oil and natural gas company’s stock valued at $233,000 after purchasing an additional 114 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Diamondback Energy by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 36,576 shares of the oil and natural gas company’s stock valued at $3,391,000 after purchasing an additional 116 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of Diamondback Energy by 0.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,628 shares of the oil and natural gas company’s stock valued at $2,097,000 after purchasing an additional 125 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Diamondback Energy by 7.8% in the 4th quarter. GSA Capital Partners LLP now owns 2,205 shares of the oil and natural gas company’s stock valued at $204,000 after purchasing an additional 159 shares in the last quarter.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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