Brokerages forecast that Diamondback Energy Inc (NASDAQ:FANG) will announce $1.48 earnings per share for the current fiscal quarter, Zacks reports. Thirteen analysts have issued estimates for Diamondback Energy’s earnings. The highest EPS estimate is $2.46 and the lowest is $0.76. Diamondback Energy reported earnings per share of $1.64 in the same quarter last year, which would suggest a negative year over year growth rate of 9.8%. The company is scheduled to announce its next earnings results on Tuesday, May 14th.
According to Zacks, analysts expect that Diamondback Energy will report full year earnings of $7.77 per share for the current year, with EPS estimates ranging from $5.16 to $12.23. For the next year, analysts forecast that the company will report earnings of $12.34 per share, with EPS estimates ranging from $8.75 to $20.32. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 19th. The oil and natural gas company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.41). The business had revenue of $633.06 million during the quarter, compared to analyst estimates of $663.21 million. Diamondback Energy had a return on equity of 7.83% and a net margin of 38.84%.
A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $148.00 price target on shares of Diamondback Energy in a research report on Monday, March 11th. ValuEngine downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Citigroup restated a “buy” rating and set a $155.00 price objective on shares of Diamondback Energy in a research note on Tuesday, December 11th. Morgan Stanley lifted their price objective on Diamondback Energy from $147.00 to $154.00 and gave the company an “overweight” rating in a report on Thursday, February 21st. Finally, Williams Capital reiterated a “buy” rating and set a $153.00 target price on shares of Diamondback Energy in a research report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Diamondback Energy has an average rating of “Buy” and a consensus price target of $158.27.
In other Diamondback Energy news, VP Jennifer Soliman sold 350 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $104.41, for a total transaction of $36,543.50. Following the completion of the transaction, the vice president now owns 2,624 shares of the company’s stock, valued at $273,971.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Randall J. Holder sold 4,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $104.13, for a total value of $416,520.00. Following the transaction, the insider now directly owns 14,448 shares of the company’s stock, valued at approximately $1,504,470.24. The disclosure for this sale can be found here. Insiders have sold a total of 6,050 shares of company stock valued at $626,158 in the last three months. 0.57% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Goelzer Investment Management Inc. boosted its position in Diamondback Energy by 1.2% in the fourth quarter. Goelzer Investment Management Inc. now owns 18,866 shares of the oil and natural gas company’s stock valued at $1,749,000 after buying an additional 230 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Diamondback Energy by 81.3% during the third quarter. Nordea Investment Management AB now owns 3,815 shares of the oil and natural gas company’s stock worth $516,000 after buying an additional 1,711 shares during the last quarter. Dubuque Bank & Trust Co. bought a new stake in shares of Diamondback Energy during the fourth quarter worth $49,000. Moody National Bank Trust Division increased its holdings in shares of Diamondback Energy by 0.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,628 shares of the oil and natural gas company’s stock worth $2,097,000 after buying an additional 125 shares in the last quarter. Finally, Boston Advisors LLC increased its holdings in shares of Diamondback Energy by 31.5% during the fourth quarter. Boston Advisors LLC now owns 3,615 shares of the oil and natural gas company’s stock worth $335,000 after buying an additional 865 shares in the last quarter.
Shares of FANG traded up $2.61 during mid-day trading on Friday, hitting $102.45. 1,950,993 shares of the company’s stock were exchanged, compared to its average volume of 1,585,221. Diamondback Energy has a 52 week low of $85.19 and a 52 week high of $140.78. The stock has a market capitalization of $16.41 billion, a PE ratio of 17.45, a P/E/G ratio of 0.62 and a beta of 0.80. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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