Diamondback Energy Inc (NASDAQ:FANG) – Analysts at SunTrust Banks increased their Q1 2020 earnings estimates for shares of Diamondback Energy in a note issued to investors on Tuesday, January 21st. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings of $2.15 per share for the quarter, up from their previous forecast of $2.14. SunTrust Banks has a “Buy” rating and a $137.00 price target on the stock. SunTrust Banks also issued estimates for Diamondback Energy’s Q2 2020 earnings at $2.16 EPS, Q4 2020 earnings at $2.24 EPS, FY2020 earnings at $8.78 EPS, Q1 2021 earnings at $2.58 EPS, Q4 2021 earnings at $3.23 EPS and FY2021 earnings at $11.67 EPS.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.24). The firm had revenue of $975.00 million during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a net margin of 29.59% and a return on equity of 6.01%. The business’s revenue was up 81.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 earnings per share.
Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their target price on Diamondback Energy from $152.00 to $139.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. They noted that the move was a valuation call. Morgan Stanley dropped their target price on Diamondback Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. TD Securities dropped their target price on Diamondback Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Credit Suisse Group reaffirmed a “buy” rating and issued a $116.00 target price on shares of Diamondback Energy in a research report on Thursday, November 28th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Diamondback Energy in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $133.81.
NASDAQ FANG opened at $84.70 on Friday. The company has a market cap of $13.72 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.74 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.72 and a quick ratio of 0.68. The stock has a 50-day moving average of $89.15 and a two-hundred day moving average of $90.93. Diamondback Energy has a 1-year low of $73.18 and a 1-year high of $114.14.
A number of hedge funds have recently bought and sold shares of FANG. FNY Investment Advisers LLC lifted its stake in Diamondback Energy by 4,118.2% during the third quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock worth $41,000 after purchasing an additional 453 shares during the last quarter. Evoke Wealth LLC purchased a new stake in Diamondback Energy during the third quarter worth approximately $45,000. Baystate Wealth Management LLC lifted its stake in Diamondback Energy by 10,766.7% during the fourth quarter. Baystate Wealth Management LLC now owns 652 shares of the oil and natural gas company’s stock worth $61,000 after purchasing an additional 646 shares during the last quarter. Huntington National Bank lifted its stake in Diamondback Energy by 1,243.1% during the fourth quarter. Huntington National Bank now owns 685 shares of the oil and natural gas company’s stock worth $64,000 after purchasing an additional 634 shares during the last quarter. Finally, Quad Cities Investment Group LLC purchased a new stake in Diamondback Energy during the third quarter worth approximately $66,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.
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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