SunTrust Banks, Inc. reaffirmed their buy rating on shares of Diamondback Energy, Inc. (NASDAQ:FANG) in a research report released on Friday morning. The brokerage currently has a $130.00 target price on the oil and natural gas company’s stock. SunTrust Banks also issued estimates for Diamondback Energy’s Q4 2017 earnings at $1.45 EPS, FY2017 earnings at $5.07 EPS, FY2018 earnings at $6.17 EPS, FY2019 earnings at $8.64 EPS and FY2020 earnings at $11.00 EPS.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Diamondback Energy from a hold rating to a sell rating in a research note on Monday, July 17th. US Capital Advisors reaffirmed a buy rating on shares of Diamondback Energy in a research note on Monday, October 2nd. Piper Jaffray Companies reaffirmed a buy rating and set a $112.00 target price on shares of Diamondback Energy in a research note on Thursday, September 14th. BidaskClub raised shares of Diamondback Energy from a sell rating to a hold rating in a research note on Wednesday, July 19th. Finally, Bank of America Corporation started coverage on shares of Diamondback Energy in a research note on Wednesday, July 19th. They set a buy rating and a $115.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company. Diamondback Energy presently has an average rating of Buy and a consensus target price of $123.96.
Shares of Diamondback Energy (NASDAQ FANG) opened at $111.86 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.67. The stock has a market cap of $10,980.96, a price-to-earnings ratio of 23.95, a PEG ratio of 0.82 and a beta of 1.10. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $114.93.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. The company had revenue of $301.30 million during the quarter, compared to analysts’ expectations of $296.53 million. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. Diamondback Energy’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period last year, the company posted ($0.03) earnings per share. research analysts anticipate that Diamondback Energy will post 5.01 EPS for the current year.
In related news, VP Russell Pantermuehl sold 4,000 shares of Diamondback Energy stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $96.89, for a total transaction of $387,560.00. Following the completion of the sale, the vice president now owns 70,214 shares in the company, valued at approximately $6,803,034.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Hof Matthew Kaes Van’t sold 650 shares of Diamondback Energy stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total transaction of $57,518.50. Following the sale, the vice president now owns 4,950 shares of the company’s stock, valued at approximately $438,025.50. The disclosure for this sale can be found here. Insiders have sold a total of 14,805 shares of company stock valued at $1,449,381 in the last quarter. 0.41% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Johnson Financial Group Inc. purchased a new position in Diamondback Energy during the 2nd quarter valued at about $102,000. Cubist Systematic Strategies LLC increased its position in Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares during the period. Crossmark Global Holdings Inc. purchased a new position in Diamondback Energy during the 3rd quarter valued at about $206,000. Commerce Bank purchased a new position in Diamondback Energy during the 3rd quarter valued at about $208,000. Finally, Sentry Investment Management LLC purchased a new position in Diamondback Energy during the 2nd quarter valued at about $215,000.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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