Diamondback Energy Inc (NASDAQ:FANG) – Investment analysts at Capital One Financial lowered their FY2019 earnings per share (EPS) estimates for Diamondback Energy in a note issued to investors on Monday, December 9th. Capital One Financial analyst R. Tullis now expects that the oil and natural gas company will post earnings of $6.48 per share for the year, down from their previous estimate of $6.60. Capital One Financial also issued estimates for Diamondback Energy’s Q4 2019 earnings at $1.93 EPS.
FANG has been the topic of several other reports. Susquehanna Bancshares dropped their target price on Diamondback Energy from $125.00 to $130.00 in a research note on Tuesday, October 1st. Raymond James dropped their target price on Diamondback Energy from $120.00 to $110.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 7th. TheStreet downgraded Diamondback Energy from a “b-” rating to a “c+” rating in a research note on Tuesday, October 8th. ValuEngine upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their target price on Diamondback Energy from $152.00 to $139.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $135.60.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.24). Diamondback Energy had a net margin of 29.59% and a return on equity of 6.01%. The company had revenue of $975.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $1.67 earnings per share. The company’s revenue was up 81.6% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Gilder Gagnon Howe & Co. LLC acquired a new stake in Diamondback Energy during the 3rd quarter worth about $3,281,000. Waratah Capital Advisors Ltd. lifted its position in Diamondback Energy by 44.5% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 159,326 shares of the oil and natural gas company’s stock worth $14,325,000 after acquiring an additional 49,083 shares during the period. Metropolitan Life Insurance Co NY lifted its position in Diamondback Energy by 6.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 25,960 shares of the oil and natural gas company’s stock worth $2,334,000 after acquiring an additional 1,672 shares during the period. Millennium Management LLC lifted its position in Diamondback Energy by 358.9% during the 3rd quarter. Millennium Management LLC now owns 2,349,370 shares of the oil and natural gas company’s stock worth $211,231,000 after acquiring an additional 1,837,358 shares during the period. Finally, Man Group plc lifted its position in Diamondback Energy by 23.8% during the 3rd quarter. Man Group plc now owns 171,938 shares of the oil and natural gas company’s stock worth $15,458,000 after acquiring an additional 33,027 shares during the period. 98.64% of the stock is owned by institutional investors.
In other Diamondback Energy news, COO Michael L. Hollis sold 2,000 shares of Diamondback Energy stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $102.25, for a total transaction of $204,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael P. Cross sold 1,000 shares of Diamondback Energy stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $104.75, for a total value of $104,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,000 shares of company stock valued at $618,880. 0.47% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were given a dividend of $0.1875 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.75 dividend on an annualized basis and a yield of 0.90%. Diamondback Energy’s dividend payout ratio is currently 12.78%.
Diamondback Energy Company Profile
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.
Further Reading: How is the Producer Price Index calculated?
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.