Diamondback Energy Inc (NASDAQ:FANG) – Equities research analysts at Jefferies Financial Group increased their Q4 2018 EPS estimates for Diamondback Energy in a research note issued to investors on Monday, December 3rd. Jefferies Financial Group analyst M. Lear now anticipates that the oil and natural gas company will post earnings per share of $3.00 for the quarter, up from their previous estimate of $2.38. Jefferies Financial Group has a “Buy” rating and a $177.00 price target on the stock. Jefferies Financial Group also issued estimates for Diamondback Energy’s Q1 2019 earnings at $2.71 EPS, Q2 2019 earnings at $2.69 EPS, Q3 2019 earnings at $2.72 EPS, Q4 2019 earnings at $3.19 EPS, FY2019 earnings at $11.32 EPS, Q1 2020 earnings at $4.02 EPS, Q2 2020 earnings at $4.29 EPS, Q3 2020 earnings at $4.54 EPS and FY2020 earnings at $17.64 EPS.
FANG has been the subject of several other reports. Piper Jaffray Companies reiterated an “overweight” rating on shares of Diamondback Energy in a report on Friday, September 28th. Oppenheimer started coverage on shares of Diamondback Energy in a report on Wednesday, October 3rd. They set an “outperform” rating and a $166.00 target price for the company. Williams Capital set a $171.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a report on Wednesday, November 7th. Morgan Stanley lifted their target price on shares of Diamondback Energy from $164.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Finally, BidaskClub upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Five investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $160.27.
Shares of FANG opened at $101.82 on Wednesday. Diamondback Energy has a one year low of $96.95 and a one year high of $140.78. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 0.60 and a beta of 0.72. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.36.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The business had revenue of $538.03 million during the quarter, compared to analyst estimates of $518.32 million. During the same period last year, the business posted $1.33 earnings per share. Diamondback Energy’s quarterly revenue was up 78.6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 26th. Investors of record on Monday, November 19th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Friday, November 16th. Diamondback Energy’s dividend payout ratio (DPR) is currently 9.43%.
In related news, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the sale, the vice president now owns 89,532 shares of the company’s stock, valued at $11,442,189.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in FANG. Marshall Wace North America L.P. bought a new stake in Diamondback Energy in the 3rd quarter worth approximately $6,959,000. Belpointe Asset Management LLC bought a new stake in Diamondback Energy in the 3rd quarter worth approximately $113,000. Vanguard Group Inc. grew its position in Diamondback Energy by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,587,857 shares of the oil and natural gas company’s stock worth $1,160,994,000 after purchasing an additional 23,673 shares during the period. Morgan Stanley grew its position in Diamondback Energy by 47.2% in the 3rd quarter. Morgan Stanley now owns 487,171 shares of the oil and natural gas company’s stock worth $65,860,000 after purchasing an additional 156,100 shares during the period. Finally, Legal & General Group Plc grew its position in Diamondback Energy by 4.3% in the 3rd quarter. Legal & General Group Plc now owns 400,932 shares of the oil and natural gas company’s stock worth $54,202,000 after purchasing an additional 16,456 shares during the period.
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.
See Also: Return on Investment (ROI)
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