Brokerages Anticipate Diamondback Energy Inc (NASDAQ:FANG) Will Post Earnings of $1.96 Per Share

Wall Street analysts expect Diamondback Energy Inc (NASDAQ:FANG) to post $1.96 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for Diamondback Energy’s earnings, with the highest EPS estimate coming in at $2.31 and the lowest estimate coming in at $1.69. Diamondback Energy reported earnings of $1.67 per share during the same quarter last year, which would suggest a positive year over year growth rate of 17.4%. The business is scheduled to issue its next earnings results on Tuesday, November 5th.

On average, analysts expect that Diamondback Energy will report full year earnings of $7.27 per share for the current financial year, with EPS estimates ranging from $6.36 to $8.05. For the next financial year, analysts forecast that the firm will report earnings of $11.44 per share, with EPS estimates ranging from $8.50 to $25.25. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) 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 company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $1.59 EPS. The company’s revenue for the quarter was up 93.7% compared to the same quarter last year.



Several equities research analysts recently issued reports on the stock. KeyCorp raised 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. Williams Capital restated a “buy” rating and issued a $165.00 target price on shares of Diamondback Energy in a report on Tuesday, July 30th. JPMorgan Chase & Co. dropped their target price on shares of Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada restated a “buy” rating and issued a $156.00 target price on shares of Diamondback Energy in a report on Sunday, August 11th. Finally, Bank of America raised their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $156.60.

FANG stock traded up $1.45 on Thursday, hitting $97.26. The company had a trading volume of 1,302,500 shares, compared to its average volume of 1,932,440. Diamondback Energy has a 12-month low of $85.19 and a 12-month high of $140.78. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The stock’s 50-day simple moving average is $102.56 and its 200 day simple moving average is $103.24. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.64 and a beta of 0.82.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.188 per share. This represents a $0.75 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, August 15th. Diamondback Energy’s dividend payout ratio is presently 12.78%.

In other news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of Diamondback Energy stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total transaction of $161,205.00. Following the transaction, the chief financial officer now owns 27,465 shares in the company, valued at approximately $2,951,663.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $112.18, for a total transaction of $560,900.00. Following the transaction, the vice president now owns 117,107 shares in the company, valued at approximately $13,137,063.26. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock worth $1,258,505 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

Several institutional investors have recently modified their holdings of FANG. Archford Capital Strategies LLC raised its position in shares of Diamondback Energy by 1,100.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 220 shares during the period. Berman Capital Advisors LLC raised its position in shares of Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at $32,000. Manchester Capital Management LLC bought a new stake in shares of Diamondback Energy during the 1st quarter valued at $34,000. Finally, Commonwealth Bank of Australia raised its position in shares of Diamondback Energy by 81.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 99.48% 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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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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