Analysts expect Diamondback Energy Inc (NASDAQ:FANG) to announce $1.12 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for Diamondback Energy’s earnings, with the highest sales estimate coming in at $1.20 billion and the lowest estimate coming in at $1.05 billion. Diamondback Energy reported sales of $538.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 108.2%. The firm is expected to report its next quarterly earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Diamondback Energy will report full-year sales of $4.17 billion for the current financial year, with estimates ranging from $3.92 billion to $4.50 billion. For the next financial year, analysts expect that the firm will report sales of $5.48 billion, with estimates ranging from $4.67 billion to $8.01 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.04). Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $1.59 EPS. The firm’s revenue for the quarter was up 93.7% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the stock. Northland Securities reaffirmed a “buy” rating and issued a $150.00 target price on shares of Diamondback Energy in a report on Wednesday, August 7th. Raymond James raised shares of Diamondback Energy from an “outperform” rating to a “strong-buy” rating in a report on Thursday, May 9th. Roth Capital lowered their target price on shares of Diamondback Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. KeyCorp upped their target price on shares of Diamondback Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, TD Securities upped their target price on shares of Diamondback Energy from $155.00 to $160.00 and gave the stock an “action list buy” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $153.20.
In related news, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total value of $536,400.00. Following the completion of the transaction, the vice president now directly owns 112,107 shares of the company’s stock, valued at $12,026,838.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Travis D. Stice bought 4,186 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $95.55 per share, with a total value of $399,972.30. The disclosure for this purchase can be found here. Insiders sold 11,500 shares of company stock worth $1,199,165 over the last quarter. 0.47% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC boosted its position in Diamondback Energy by 1,100.0% during the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Berman Capital Advisors LLC boosted its position in Diamondback Energy by 180.8% during the first quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 188 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Diamondback Energy during the second quarter worth $32,000. Manchester Capital Management LLC bought a new position in Diamondback Energy during the first quarter worth $34,000. Finally, Commonwealth Bank of Australia boosted its position in Diamondback Energy by 81.7% during the second quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 152 shares during the period. 99.35% of the stock is owned by institutional investors and hedge funds.
Shares of FANG traded down $0.87 during trading hours on Friday, hitting $99.23. The stock had a trading volume of 855,488 shares, compared to its average volume of 1,769,782. The company’s fifty day moving average is $101.52 and its two-hundred day moving average is $103.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.82 and a quick ratio of 0.79. Diamondback Energy has a 52 week low of $85.19 and a 52 week high of $140.78. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 0.66 and a beta of 0.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be issued a $0.188 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.76%. Diamondback Energy’s dividend payout ratio (DPR) is presently 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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