Capital One Financial Comments on Diamondback Energy Inc’s Q3 2018 Earnings (FANG)

Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at Capital One Financial lowered their Q3 2018 earnings per share estimates for Diamondback Energy in a note issued to investors on Tuesday, September 11th, Zacks Investment Research reports. Capital One Financial analyst R. Tullis now forecasts that the oil and natural gas company will post earnings per share of $1.71 for the quarter, down from their prior estimate of $1.91. Capital One Financial currently has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Diamondback Energy’s Q4 2018 earnings at $2.05 EPS.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). The firm had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The company’s revenue was up 95.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS.

Other equities research analysts have also issued research reports about the company. SunTrust Banks reiterated a “buy” rating and issued a $170.00 price target on shares of Diamondback Energy in a research report on Friday, August 10th. KLR Group reiterated a “buy” rating and issued a $211.00 price target on shares of Diamondback Energy in a research report on Monday, August 20th. TD Securities set a $175.00 price target on Diamondback Energy and gave the company a “buy” rating in a research report on Saturday, August 11th. Morgan Stanley reduced their price target on Diamondback Energy from $176.00 to $164.00 and set an “overweight” rating on the stock in a research report on Thursday, August 16th. Finally, Raymond James reiterated a “buy” rating and issued a $166.00 price target on shares of Diamondback Energy in a research report on Monday, August 13th. Three investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $154.72.

FANG stock traded up $1.10 during midday trading on Thursday, reaching $136.35. 1,428,693 shares of the stock were exchanged, compared to its average volume of 1,645,266. The firm has a market capitalization of $13.33 billion, a P/E ratio of 25.73, a P/E/G ratio of 0.81 and a beta of 0.59. Diamondback Energy has a 52 week low of $97.81 and a 52 week high of $140.78. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33.

A number of hedge funds have recently bought and sold shares of the stock. Global X Management Co. LLC raised its stake in Diamondback Energy by 57.5% during the 1st quarter. Global X Management Co. LLC now owns 1,320 shares of the oil and natural gas company’s stock worth $167,000 after buying an additional 482 shares during the period. Captrust Financial Advisors raised its stake in Diamondback Energy by 99.8% during the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock worth $131,000 after buying an additional 497 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in Diamondback Energy by 13.2% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 4,300 shares of the oil and natural gas company’s stock worth $566,000 after buying an additional 500 shares during the period. Xact Kapitalforvaltning AB raised its stake in Diamondback Energy by 5.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 10,121 shares of the oil and natural gas company’s stock worth $1,281,000 after buying an additional 504 shares during the period. Finally, Dana Investment Advisors Inc. raised its stake in Diamondback Energy by 1.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 32,945 shares of the oil and natural gas company’s stock worth $4,335,000 after buying an additional 572 shares during the period.

In other news, insider Michael L. Hollis sold 5,000 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $128.85, for a total value of $644,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the transaction, the vice president now directly owns 89,532 shares in the company, valued at $11,442,189.60. The disclosure for this sale can be found here. Insiders sold a total of 7,140 shares of company stock worth $916,735 over the last three months. 0.57% of the stock is owned by company insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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

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