Analysts Anticipate Diamondback Energy Inc (NASDAQ:FANG) Will Announce Quarterly Sales of $1.09 Billion

Equities analysts expect that Diamondback Energy Inc (NASDAQ:FANG) will post sales of $1.09 billion for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Diamondback Energy’s earnings. The lowest sales estimate is $1.02 billion and the highest is $1.18 billion. Diamondback Energy reported sales of $633.06 million in the same quarter last year, which indicates a positive year-over-year growth rate of 72.2%. The business is scheduled to issue its next earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that Diamondback Energy will report full year sales of $3.97 billion for the current financial year, with estimates ranging from $3.83 billion to $4.08 billion. For the next financial year, analysts anticipate that the business will post sales of $4.77 billion, with estimates ranging from $4.59 billion to $5.03 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.24). Diamondback Energy had a return on equity of 6.01% and a net margin of 29.59%. The firm had revenue of $975.00 million for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. Diamondback Energy’s revenue for the quarter was up 81.6% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. Imperial Capital cut their price objective on shares of Diamondback Energy from $100.00 to $88.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective on shares of 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. SunTrust Banks cut their price objective on shares of Diamondback Energy from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Co cut their price objective on shares of Diamondback Energy from $148.00 to $137.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Piper Jaffray Companies set a $156.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Friday, August 16th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $138.64.

Diamondback Energy stock traded down $1.54 during midday trading on Friday, hitting $74.19. 1,619,700 shares of the stock were exchanged, compared to its average volume of 1,860,554. Diamondback Energy has a fifty-two week low of $73.71 and a fifty-two week high of $115.97. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.95 and a beta of 0.78. The stock’s 50-day simple moving average is $82.96 and its 200 day simple moving average is $96.69. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 0.31.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 12.78%.

In related news, COO Michael L. Hollis sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $102.25, for a total value of $204,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $100.25, for a total transaction of $501,250.00. Following the completion of the transaction, the vice president now owns 105,107 shares of the company’s stock, valued at approximately $10,536,976.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,000 shares of company stock valued at $1,321,690. Company insiders own 0.47% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Goelzer Investment Management Inc. grew its holdings in shares of Diamondback Energy by 0.9% in the third quarter. Goelzer Investment Management Inc. now owns 19,512 shares of the oil and natural gas company’s stock valued at $1,754,000 after purchasing an additional 178 shares in the last quarter. Violich Capital Management Inc. grew its holdings in shares of Diamondback Energy by 47.5% in the third quarter. Violich Capital Management Inc. now owns 5,900 shares of the oil and natural gas company’s stock valued at $530,000 after purchasing an additional 1,900 shares in the last quarter. Corient Capital Partners LLC grew its holdings in shares of Diamondback Energy by 6.9% in the third quarter. Corient Capital Partners LLC now owns 2,274 shares of the oil and natural gas company’s stock valued at $204,000 after purchasing an additional 146 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Diamondback Energy by 5.7% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 6,209 shares of the oil and natural gas company’s stock valued at $558,000 after purchasing an additional 337 shares in the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of Diamondback Energy in the third quarter valued at approximately $291,000. Hedge funds and other institutional investors own 98.20% 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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