Wall Street brokerages forecast that Diamondback Energy Inc (NASDAQ:FANG) will report sales of $514.79 million for the current quarter, according to Zacks. Thirteen analysts have provided estimates for Diamondback Energy’s earnings, with estimates ranging from $437.90 million to $572.00 million. Diamondback Energy reported sales of $301.25 million during the same quarter last year, which indicates a positive year-over-year growth rate of 70.9%. The firm is expected to report its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that Diamondback Energy will report full-year sales of $2.00 billion for the current year, with estimates ranging from $1.76 billion to $2.16 billion. For the next financial year, analysts anticipate that the company will post sales of $2.67 billion per share, with estimates ranging from $2.42 billion to $3.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.05). The business had revenue of $526.30 million for the quarter, compared to analyst estimates of $479.57 million. Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The firm’s revenue for the quarter was up 95.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS.
Several analysts have recently commented on the stock. KLR Group restated a “buy” rating and issued a $211.00 target price on shares of Diamondback Energy in a research note on Monday. Williams Capital upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $165.00 to $167.00 in a research note on Monday. BMO Capital Markets restated a “hold” rating and issued a $135.00 target price on shares of Diamondback Energy in a research note on Friday. SunTrust Banks set a $175.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday. Finally, Morgan Stanley reduced their target price on shares of Diamondback Energy from $176.00 to $164.00 and set an “overweight” rating for the company in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $154.18.
In related news, VP Hof Matthew Kaes Van’t sold 832 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $128.46, for a total value of $106,878.72. Following the completion of the sale, the vice president now owns 6,897 shares in the company, valued at $885,988.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael L. Hollis sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $128.85, for a total transaction of $644,250.00. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FANG. Renaissance Technologies LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at about $2,954,000. Global X Management Co. LLC lifted its stake in shares of Diamondback Energy by 57.5% in the first quarter. Global X Management Co. LLC now owns 1,320 shares of the oil and natural gas company’s stock valued at $167,000 after purchasing an additional 482 shares during the period. Hennessy Advisors Inc. purchased a new position in Diamondback Energy during the 1st quarter valued at about $1,102,000. Daiwa Securities Group Inc. increased its holdings in Diamondback Energy by 9.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 34,777 shares of the oil and natural gas company’s stock valued at $4,400,000 after acquiring an additional 3,002 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Diamondback Energy by 1.0% during the 1st quarter. Rhumbline Advisers now owns 103,057 shares of the oil and natural gas company’s stock valued at $13,039,000 after acquiring an additional 1,052 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.
NASDAQ:FANG traded up $0.81 during trading hours on Monday, reaching $120.99. 1,904,100 shares of the company’s stock were exchanged, compared to its average volume of 1,618,024. The stock has a market cap of $13.29 billion, a P/E ratio of 22.84, a P/E/G ratio of 0.66 and a beta of 0.62. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.54 and a quick ratio of 0.52. Diamondback Energy has a 1-year low of $86.43 and a 1-year high of $138.25.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 27th. Investors of record on Monday, August 20th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, August 17th. Diamondback Energy’s dividend payout ratio (DPR) is 9.43%.
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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