Analysts expect Diamondback Energy (NASDAQ:FANG) to report $431.97 million in sales for the current quarter, Zacks Investment Research reports. Fourteen analysts have made estimates for Diamondback Energy’s earnings. The lowest sales estimate is $384.42 million and the highest is $470.80 million. Diamondback Energy posted sales of $235.23 million during the same quarter last year, which would suggest a positive year over year growth rate of 83.6%. The business is expected to report its next earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Diamondback Energy will report full year sales of $1.92 billion for the current year, with estimates ranging from $1.69 billion to $2.20 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.51 billion per share, with estimates ranging from $2.33 billion to $2.98 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.16. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.63%. The company had revenue of $399.19 million during the quarter, compared to analysts’ expectations of $370.74 million.
FANG has been the subject of a number of analyst reports. Piper Jaffray reissued a “buy” rating and set a $138.00 target price on shares of Diamondback Energy in a research report on Tuesday, January 9th. Barclays reissued a “buy” rating and set a $138.00 target price on shares of Diamondback Energy in a research report on Sunday, December 24th. BidaskClub upgraded shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Roth Capital upped their price target on shares of Diamondback Energy from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $141.68.
In other news, CEO Travis D. Stice sold 87,150 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $125.20, for a total value of $10,911,180.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Randall J. Holder sold 7,120 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.15, for a total transaction of $883,948.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,431 shares of company stock worth $16,713,832. 0.41% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors purchased a new position in Diamondback Energy during the fourth quarter worth about $149,000. IFP Advisors Inc raised its stake in Diamondback Energy by 42.6% during the fourth quarter. IFP Advisors Inc now owns 1,302 shares of the oil and natural gas company’s stock worth $164,000 after purchasing an additional 389 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in Diamondback Energy by 476.3% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,412 shares of the oil and natural gas company’s stock worth $178,000 after purchasing an additional 1,167 shares during the period. KCS Wealth Advisory purchased a new position in Diamondback Energy during the fourth quarter worth about $202,000. Finally, Dearborn Partners LLC purchased a new position in Diamondback Energy during the fourth quarter worth about $208,000.
NASDAQ:FANG traded up $1.99 during midday trading on Friday, reaching $121.03. 888,233 shares of the stock traded hands, compared to its average volume of 1,443,908. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $134.60. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $11,652.46, a price-to-earnings ratio of 22.93, a PEG ratio of 0.66 and a beta of 0.82.
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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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