Seaport Global Securities Comments on Diamondback Energy Inc’s Q4 2017 Earnings (FANG)

Diamondback Energy Inc (NASDAQ:FANG) – Investment analysts at Seaport Global Securities raised their Q4 2017 earnings per share estimates for shares of Diamondback Energy in a research note issued to investors on Thursday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings of $1.71 per share for the quarter, up from their previous estimate of $1.63. Seaport Global Securities also issued estimates for Diamondback Energy’s Q1 2018 earnings at $1.19 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.50 EPS, Q4 2018 earnings at $1.61 EPS and FY2018 earnings at $5.64 EPS.

Other research analysts have also issued research reports about the stock. US Capital Advisors reaffirmed a “buy” rating on shares of Diamondback Energy in a research note on Monday, October 2nd. Northland Securities reaffirmed a “buy” rating and issued a $125.00 price target on shares of Diamondback Energy in a research note on Tuesday, September 26th. BMO Capital Markets set a $110.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Monday, October 9th. Finally, Jefferies Group initiated coverage on shares of Diamondback Energy in a research note on Monday, October 9th. They issued a “buy” rating and a $124.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $125.42.

Diamondback Energy (NASDAQ FANG) opened at $130.14 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.22. Diamondback Energy has a one year low of $82.77 and a one year high of $132.07. The firm has a market cap of $12,770.00, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 0.74 and a beta of 1.08.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 6th. The oil and natural gas company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.31. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%. The business had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same quarter last year, the firm earned ($0.03) EPS. Diamondback Energy’s quarterly revenue was up 112.0% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently modified their holdings of FANG. Schwab Charles Investment Management Inc. increased its holdings in Diamondback Energy by 14.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 288,899 shares of the oil and natural gas company’s stock worth $25,658,000 after buying an additional 37,101 shares during the last quarter. Comerica Bank increased its holdings in Diamondback Energy by 1.6% during the second quarter. Comerica Bank now owns 12,927 shares of the oil and natural gas company’s stock worth $1,205,000 after buying an additional 201 shares during the last quarter. Prudential Financial Inc. increased its holdings in Diamondback Energy by 11.5% during the second quarter. Prudential Financial Inc. now owns 5,450 shares of the oil and natural gas company’s stock worth $484,000 after buying an additional 560 shares during the last quarter. Westpac Banking Corp increased its holdings in Diamondback Energy by 6.6% during the second quarter. Westpac Banking Corp now owns 6,344 shares of the oil and natural gas company’s stock worth $563,000 after buying an additional 391 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Diamondback Energy by 12.3% during the second quarter. Franklin Resources Inc. now owns 367,810 shares of the oil and natural gas company’s stock worth $32,656,000 after buying an additional 40,284 shares during the last quarter.

In related news, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $109.55, for a total transaction of $438,200.00. Following the transaction, the vice president now directly owns 64,214 shares in the company, valued at $7,034,643.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael L. Hollis sold 2,000 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $102.44, for a total transaction of $204,880.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,400 shares of company stock worth $9,361,210. 0.41% of the stock is owned by corporate insiders.

WARNING: “Seaport Global Securities Comments on Diamondback Energy Inc’s Q4 2017 Earnings (FANG)” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another site, it was stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://ledgergazette.com/2018/01/13/seaport-global-securities-comments-on-diamondback-energy-incs-q4-2017-earnings-fang.html.

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.

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

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply