Diamondback Energy Inc (NASDAQ:FANG) – Imperial Capital reduced their Q3 2018 earnings per share estimates for Diamondback Energy in a note issued to investors on Thursday, August 16th. Imperial Capital analyst J. Wangler now anticipates that the oil and natural gas company will post earnings per share of $1.79 for the quarter, down from their prior estimate of $1.80. Imperial Capital currently has a “Outperform” rating and a $170.00 target price on the stock. Imperial Capital also issued estimates for Diamondback Energy’s FY2018 earnings at $7.04 EPS.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.05). Diamondback Energy had a net margin of 33.37% and a return on equity of 10.56%. The business had revenue of $526.30 million during the quarter, compared to analysts’ expectations of $479.57 million. During the same quarter last year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 95.4% compared to the same quarter last year.
FANG has been the topic of several other reports. Raymond James reissued a “buy” rating and issued a $166.00 price objective on shares of Diamondback Energy in a research note on Monday, August 13th. BMO Capital Markets reissued a “hold” rating and issued a $135.00 price objective on shares of Diamondback Energy in a research note on Friday, August 17th. Capital One Financial reissued an “overweight” rating on shares of Diamondback Energy in a research note on Wednesday, August 8th. TD Securities set a $175.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, August 11th. Finally, Stifel Nicolaus set a $166.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Wednesday, August 15th. Five equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $154.18.
FANG stock opened at $122.59 on Monday. Diamondback Energy has a 12 month low of $86.52 and a 12 month high of $138.25. The firm has a market capitalization of $11.85 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 0.72 and a beta of 0.62. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 27th. Stockholders of record on Monday, August 20th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, August 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.41%. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.
In other news, insider Michael L. Hollis sold 5,000 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $128.85, for a total transaction of $644,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Hof Matthew Kaes Van’t sold 832 shares of the company’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $128.46, for a total transaction of $106,878.72. Following the transaction, the vice president now directly owns 6,897 shares in the company, valued at $885,988.62. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Energy Opportunities Capital Management LLC grew its stake in shares of Diamondback Energy by 26.2% during the 2nd quarter. Energy Opportunities Capital Management LLC now owns 12,275 shares of the oil and natural gas company’s stock worth $1,615,000 after purchasing an additional 2,550 shares during the period. Andra AP fonden acquired a new stake in Diamondback Energy in the 2nd quarter valued at about $2,000,000. MAI Capital Management acquired a new stake in Diamondback Energy in the 2nd quarter valued at about $241,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Diamondback Energy by 40.1% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,130 shares of the oil and natural gas company’s stock valued at $280,000 after acquiring an additional 610 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in Diamondback Energy in the 2nd quarter valued at about $263,000. 96.46% of the stock is currently owned by institutional investors and hedge funds.
About Diamondback Energy
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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