Equities analysts forecast that Diamondback Energy Inc (NASDAQ:FANG) will report earnings per share (EPS) of $2.00 for the current quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for Diamondback Energy’s earnings. The highest EPS estimate is $2.42 and the lowest is $1.73. Diamondback Energy posted earnings of $1.59 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 25.8%. The firm is scheduled to announce its next earnings report on Wednesday, August 14th.
According to Zacks, analysts expect that Diamondback Energy will report full-year earnings of $8.07 per share for the current fiscal year, with EPS estimates ranging from $7.14 to $9.46. For the next year, analysts anticipate that the firm will post earnings of $12.05 per share, with EPS estimates ranging from $7.53 to $25.07. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The business had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $893.16 million. During the same period in the prior year, the business earned $1.64 EPS. The business’s revenue for the quarter was up 80.4% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price objective on Diamondback Energy from $153.00 to $161.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. KeyCorp upped their price objective on Diamondback Energy from $124.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Williams Capital restated a “buy” rating and set a $165.00 price objective on shares of Diamondback Energy in a research note on Wednesday, May 8th. JPMorgan Chase & Co. restated an “overweight” rating and set a $148.00 price objective on shares of Diamondback Energy in a research note on Monday, March 11th. Finally, BidaskClub upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $160.74.
In other Diamondback Energy news, insider Randall J. Holder sold 4,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $104.13, for a total value of $416,520.00. Following the completion of the sale, the insider now directly owns 14,448 shares in the company, valued at $1,504,470.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Russell Pantermuehl sold 5,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total value of $560,900.00. Following the completion of the sale, the vice president now owns 117,107 shares of the company’s stock, valued at $13,137,063.26. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Diamondback Energy by 11.4% in the first quarter. JPMorgan Chase & Co. now owns 13,528,463 shares of the oil and natural gas company’s stock valued at $1,373,546,000 after buying an additional 1,388,245 shares in the last quarter. BlackRock Inc. grew its stake in shares of Diamondback Energy by 0.6% during the first quarter. BlackRock Inc. now owns 10,232,287 shares of the oil and natural gas company’s stock valued at $1,038,884,000 after acquiring an additional 59,458 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Diamondback Energy by 0.3% during the third quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock valued at $1,160,994,000 after acquiring an additional 23,673 shares in the last quarter. Boston Partners grew its stake in shares of Diamondback Energy by 16.5% during the first quarter. Boston Partners now owns 3,990,944 shares of the oil and natural gas company’s stock valued at $405,201,000 after acquiring an additional 566,290 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Diamondback Energy by 28,126.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 2,971,317 shares in the last quarter. Institutional investors own 98.97% of the company’s stock.
Shares of FANG stock traded down $1.22 during mid-day trading on Friday, hitting $98.95. The stock had a trading volume of 1,061,774 shares, compared to its average volume of 1,855,372. Diamondback Energy has a 12-month low of $85.19 and a 12-month high of $140.78. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 0.59 and a beta of 0.83. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.32.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th were paid a $0.188 dividend. The ex-dividend date of this dividend was Friday, May 24th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.13. This represents a $0.75 dividend on an annualized basis and a yield of 0.76%. Diamondback Energy’s dividend payout ratio (DPR) is 12.78%.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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