Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at Jefferies Group cut their Q1 2018 earnings per share (EPS) estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Lear now forecasts that the oil and natural gas company will post earnings of $1.50 per share for the quarter, down from their previous forecast of $1.51. Jefferies Group has a “Buy” rating and a $162.00 price target on the stock. Jefferies Group also issued estimates for Diamondback Energy’s Q2 2018 earnings at $1.75 EPS, Q3 2018 earnings at $2.04 EPS, Q4 2018 earnings at $2.10 EPS, FY2018 earnings at $7.40 EPS, Q1 2019 earnings at $2.36 EPS, Q2 2019 earnings at $2.55 EPS, Q3 2019 earnings at $2.75 EPS, Q4 2019 earnings at $2.90 EPS and FY2019 earnings at $10.56 EPS.
A number of other brokerages also recently weighed in on FANG. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a report on Wednesday, January 17th. Deutsche Bank started coverage on shares of Diamondback Energy in a report on Thursday, February 1st. They issued a “buy” rating and a $162.00 price target for the company. Scotiabank reissued a “buy” rating and issued a $118.00 price target on shares of Diamondback Energy in a report on Wednesday, November 22nd. Piper Jaffray Companies reissued a “buy” rating and issued a $138.00 price target on shares of Diamondback Energy in a report on Tuesday, January 9th. Finally, Credit Suisse Group set a $143.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Diamondback Energy has an average rating of “Buy” and a consensus target price of $140.92.
Shares of Diamondback Energy (FANG) opened at $122.63 on Tuesday. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $134.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.62 and a quick ratio of 0.61. The firm has a market cap of $12,320.98, a PE ratio of 24.67, a P/E/G ratio of 0.70 and a beta of 0.91.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 13th. The oil and natural gas company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.16. The business had revenue of $399.19 million during the quarter, compared to the consensus estimate of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%.
Several institutional investors and hedge funds have recently modified their holdings of FANG. Captrust Financial Advisors acquired a new position in shares of Diamondback Energy in the 4th quarter valued at about $149,000. IFP Advisors Inc increased its holdings in shares of Diamondback Energy by 42.6% in the 4th quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock valued at $164,000 after purchasing an additional 389 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Diamondback Energy by 476.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock valued at $178,000 after purchasing an additional 1,167 shares during the period. KCS Wealth Advisory acquired a new position in shares of Diamondback Energy in the 4th quarter valued at about $202,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at about $206,000.
In other Diamondback Energy news, CFO Teresa L. Dick sold 2,500 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $130.97, for a total transaction of $327,425.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis D. Stice sold 87,150 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $125.20, for a total transaction of $10,911,180.00. The disclosure for this sale can be found here. Insiders have sold 192,431 shares of company stock valued at $24,001,312 over the last ninety days. Insiders own 0.41% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Q1 2018 Earnings Forecast for Diamondback Energy Inc (FANG) Issued By Jefferies Group” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://ledgergazette.com/2018/03/20/q1-2018-earnings-forecast-for-diamondback-energy-inc-fang-issued-by-jefferies-group.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.
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.