Latest Stocks: $277.14 Million in Sales Expected for Diamondback Energy Inc (FANG) This Quarter

Latest Stocks: $277.14 Million in Sales Expected for Diamondback Energy Inc (FANG) This Quarter

Wall Street brokerages expect Diamondback Energy Inc (NASDAQ:FANG) to announce $277.14 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Diamondback Energy’s earnings. The highest sales estimate is $295.26 million and the lowest is $264.18 million. Diamondback Energy reported sales of $112.48 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 146.4%. The company is expected to issue its next quarterly earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that Diamondback Energy will report full year sales of $277.14 million for the current fiscal year, with estimates ranging from $1.14 billion to $1.34 billion. For the next fiscal year, analysts expect that the business will post sales of $1.79 billion per share, with estimates ranging from $1.31 billion to $2.14 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.43. Diamondback Energy had a negative net margin of 82.83% and a positive return on equity of 4.26%. The firm earned $235.23 million during the quarter, compared to the consensus estimate of $218.62 million. Several equities research analysts recently issued reports on the company. Roth Capital set a $130.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Williams Capital reissued a “hold” rating and issued a $120.00 price objective on shares of Diamondback Energy in a research note on Wednesday. Mizuho reissued a “buy” rating and issued a $124.00 price objective on shares of Diamondback Energy in a research note on Thursday, February 16th. Wunderlich increased their price objective on Diamondback Energy from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Finally, BMO Capital Markets set a $120.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $115.68.

In other news, Director Mark Lawrence Plaumann sold 1,900 shares of the stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $107.35, for a total transaction of $203,965.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the transaction, the vice president now directly owns 72,214 shares in the company, valued at approximately $7,582,470. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,900 shares of company stock worth $1,146,685. 0.35% of the stock is currently owned by insiders. Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. raised its position in shares of Diamondback Energy by 262.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 558,659 shares of the oil and natural gas company’s stock worth $56,456,000 after buying an additional 404,345 shares in the last quarter. BlackRock Investment Management LLC raised its position in shares of Diamondback Energy by 5.7% in the third quarter. BlackRock Investment Management LLC now owns 92,073 shares of the oil and natural gas company’s stock worth $8,889,000 after buying an additional 4,933 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Diamondback Energy during the third quarter worth approximately $2,259,000. LMR Partners LLP bought a new position in shares of Diamondback Energy during the third quarter worth approximately $1,239,000. Finally, Zimmer Partners LP raised its position in shares of Diamondback Energy by 43.7% in the fourth quarter. Zimmer Partners LP now owns 1,449,064 shares of the oil and natural gas company’s stock worth $146,442,000 after buying an additional 440,876 shares in the last quarter. 95.51% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Mark Lawrence Plaumann sold 1,900 shares of the stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $107.35, for a total transaction of $203,965.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the transaction, the vice president now directly owns 72,214 shares in the company, valued at approximately $7,582,470. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,900 shares of company stock worth $1,146,685. 0.35% of the stock is currently owned by insiders. Shares of Diamondback Energy (NASDAQ:FANG) traded up 4.66% on Thursday, reaching $99.65. 1,885,659 shares of the company traded hands. The firm has a 50-day moving average of $102.22 and a 200-day moving average of $101.87. Diamondback Energy has a 52-week low of $82.80 and a 52-week high of $114.00.

About Diamondback Energy 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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