Analysts predict that Diamondback Energy Inc (NASDAQ:FANG) will announce sales of $903.15 million for the current quarter, according to Zacks. Twelve analysts have made estimates for Diamondback Energy’s earnings, with the highest sales estimate coming in at $986.00 million and the lowest estimate coming in at $752.31 million. Diamondback Energy reported sales of $480.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 88.1%. The firm is scheduled to report its next quarterly earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Diamondback Energy will report full year sales of $4.10 billion for the current year, with estimates ranging from $3.69 billion to $4.51 billion. For the next year, analysts forecast that the business will report sales of $5.36 billion, with estimates ranging from $4.89 billion to $5.99 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.41). The company had revenue of $633.06 million for the quarter, compared to analyst estimates of $663.21 million. Diamondback Energy had a return on equity of 7.83% and a net margin of 38.84%.
FANG has been the subject of several research reports. Morgan Stanley set a $147.00 price target on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, January 29th. Wells Fargo & Co decreased their price target on Diamondback Energy from $157.00 to $151.00 and set a “positive” rating on the stock in a research report on Thursday, December 20th. Williams Capital restated a “buy” rating and issued a $153.00 price target on shares of Diamondback Energy in a research report on Wednesday, December 12th. Zacks Investment Research upgraded Diamondback Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Barclays initiated coverage on Diamondback Energy in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $189.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $159.86.
NASDAQ FANG traded down $1.82 on Friday, hitting $102.39. 1,290,136 shares of the company were exchanged, compared to its average volume of 1,926,487. The company has a market cap of $16.52 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.64 and a beta of 0.80. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. Diamondback Energy has a 1-year low of $85.19 and a 1-year high of $140.78.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 21st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, February 20th. Diamondback Energy’s dividend payout ratio is currently 8.52%.
In other Diamondback Energy news, insider Michael L. Hollis bought 5,313 shares of the stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $95.12 per share, for a total transaction of $505,372.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Hof Matthew Kaes Van’t sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Thursday, December 20th. The stock was sold at an average price of $89.91, for a total value of $89,910.00. Following the completion of the sale, the vice president now owns 5,757 shares of the company’s stock, valued at $517,611.87. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Bessemer Group Inc. increased its holdings in Diamondback Energy by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 36,576 shares of the oil and natural gas company’s stock worth $3,391,000 after purchasing an additional 116 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of Diamondback Energy by 0.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,628 shares of the oil and natural gas company’s stock valued at $2,097,000 after acquiring an additional 125 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Diamondback Energy by 7.8% during the fourth quarter. GSA Capital Partners LLP now owns 2,205 shares of the oil and natural gas company’s stock valued at $204,000 after acquiring an additional 159 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Diamondback Energy by 114.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock valued at $37,000 after acquiring an additional 214 shares in the last quarter. Finally, Goelzer Investment Management Inc. increased its holdings in shares of Diamondback Energy by 1.2% during the fourth quarter. Goelzer Investment Management Inc. now owns 18,866 shares of the oil and natural gas company’s stock valued at $1,749,000 after acquiring an additional 230 shares in the last quarter.
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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