Equities research analysts expect that Diamondback Energy Inc (NASDAQ:FANG) will report earnings per share of $1.98 for the current quarter, according to Zacks Investment Research. Fourteen analysts have made estimates for Diamondback Energy’s earnings, with the lowest EPS estimate coming in at $1.51 and the highest estimate coming in at $3.18. Diamondback Energy reported earnings of $1.59 per share in the same quarter last year, which suggests a positive year over year growth rate of 24.5%. The business is scheduled to announce its next quarterly earnings report on Wednesday, August 14th.
According to Zacks, analysts expect that Diamondback Energy will report full year earnings of $8.03 per share for the current financial year, with EPS estimates ranging from $6.40 to $12.31. For the next financial year, analysts expect that the company will post earnings of $12.87 per share, with EPS estimates ranging from $9.44 to $25.07. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.03. The firm had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The company’s revenue for the quarter was up 80.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 earnings per share.
A number of brokerages have commented on FANG. Morgan Stanley set a $147.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Williams Capital reissued a “buy” rating and issued a $153.00 price objective on shares of Diamondback Energy in a research note on Wednesday, February 20th. ValuEngine upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded shares of Diamondback Energy from a “strong sell” rating to a “hold” rating in a report on Friday, February 8th. Finally, Barclays assumed coverage on shares of Diamondback Energy in a report on Wednesday, January 16th. They issued an “overweight” rating and a $189.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $160.43.
Shares of NASDAQ FANG traded down $0.05 during midday trading on Wednesday, reaching $109.06. The stock had a trading volume of 1,416,359 shares, compared to its average volume of 1,903,233. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market cap of $17.74 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.65 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.188 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, May 24th. This represents a $0.75 dividend on an annualized basis and a yield of 0.69%. Diamondback Energy’s dividend payout ratio (DPR) is presently 8.52%.
In related news, VP Jennifer Soliman sold 350 shares of Diamondback Energy stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $104.41, for a total transaction of $36,543.50. Following the completion of the sale, the vice president now owns 2,624 shares in the company, valued at approximately $273,971.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael L. Hollis acquired 5,313 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $95.12 per share, with a total value of $505,372.56. The disclosure for this purchase can be found here. Insiders have sold a total of 6,050 shares of company stock valued at $626,158 in the last quarter. 0.47% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in FANG. Ranger Investment Management L.P. purchased a new position in Diamondback Energy during the 4th quarter valued at about $25,000. Berman Capital Advisors LLC increased its position in Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares during the period. Legacy Financial Advisors Inc. purchased a new position in Diamondback Energy during the 4th quarter valued at about $30,000. Oregon Public Employees Retirement Fund increased its position in Diamondback Energy by 28,126.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 2,971,317 shares during the period. Finally, Manchester Capital Management LLC purchased a new position in Diamondback Energy during the 1st quarter valued at about $34,000.
Diamondback Energy Company Profile
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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