Wall Street brokerages expect Diamondback Energy Inc (NASDAQ:FANG) to report earnings per share of $1.48 for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Diamondback Energy’s earnings, with estimates ranging from $0.76 to $2.33. Diamondback Energy reported earnings per share of $1.64 in the same quarter last year, which would indicate a negative year over year growth rate of 9.8%. The business is expected to issue its next quarterly earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Diamondback Energy will report full-year earnings of $7.61 per share for the current year, with EPS estimates ranging from $5.16 to $11.34. For the next financial year, analysts anticipate that the company will report earnings of $12.47 per share, with EPS estimates ranging from $8.75 to $20.56. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 19th. The oil and natural gas company reported $1.21 EPS for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.41). The company had revenue of $633.06 million for the quarter, compared to analysts’ expectations of $663.21 million. Diamondback Energy had a net margin of 38.84% and a return on equity of 7.83%.
Several analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 3rd. They issued a “buy” rating and a $177.00 target price for the company. Cowen assumed coverage on shares of Diamondback Energy in a research report on Thursday, November 29th. They issued an “outperform” rating for the company. Morgan Stanley decreased their target price on shares of Diamondback Energy from $171.00 to $153.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. BidaskClub raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. Finally, Stephens assumed coverage on shares of Diamondback Energy in a research report on Thursday, December 6th. They issued an “overweight” rating and a $177.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $159.86.
In related news, insider Michael L. Hollis bought 5,313 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $95.12 per share, for a total transaction of $505,372.56. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $101.82, for a total transaction of $173,094.00. Following the transaction, the chief financial officer now owns 28,965 shares of the company’s stock, valued at $2,949,216.30. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Jackson Hole Capital Partners LLC acquired a new position in Diamondback Energy during the 4th quarter valued at $201,000. Norges Bank acquired a new position in Diamondback Energy during the 4th quarter valued at $141,883,000. Kentucky Retirement Systems acquired a new position in Diamondback Energy during the 4th quarter valued at $622,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Diamondback Energy during the 4th quarter valued at $283,000. Finally, Aurora Investment Counsel raised its stake in shares of Diamondback Energy by 4.7% in the 4th quarter. Aurora Investment Counsel now owns 16,854 shares of the oil and natural gas company’s stock valued at $1,562,000 after buying an additional 760 shares in the last quarter.
FANG stock traded down $1.82 during trading hours on Friday, hitting $102.39. The company’s stock had a trading volume of 1,290,136 shares, compared to its average volume of 1,926,487. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $16.52 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 0.64 and a beta of 0.80. Diamondback Energy has a 12 month low of $85.19 and a 12 month high of $140.78.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 21st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, February 20th. Diamondback Energy’s payout ratio is 8.52%.
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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