Diamondback Energy (NASDAQ:FANG) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Diamondback Energy (NASDAQ:FANG) issued its quarterly earnings results on Sunday. The oil and natural gas company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01, MarketWatch Earnings reports. The company had revenue of $769.00 million during the quarter, compared to analyst estimates of $768.65 million. Diamondback Energy had a negative net margin of 135.48% and a positive return on equity of 5.10%. The firm’s revenue was down 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.93 EPS.

NASDAQ FANG traded down $0.40 during trading hours on Tuesday, reaching $68.00. The company had a trading volume of 111,941 shares, compared to its average volume of 2,968,559. The stock has a 50-day moving average of $61.88 and a 200 day moving average of $43.40. Diamondback Energy has a 1-year low of $14.55 and a 1-year high of $73.31. The company has a current ratio of 0.45, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $10.74 billion, a P/E ratio of -2.36, a price-to-earnings-growth ratio of 0.59 and a beta of 2.59.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 11th. Shareholders of record on Thursday, March 4th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.38. Diamondback Energy’s dividend payout ratio is presently 21.65%.

Several equities research analysts recently commented on FANG shares. Siebert Williams Shank reissued a “buy” rating and issued a $62.00 price target on shares of Diamondback Energy in a report on Wednesday, January 13th. Roth Capital boosted their price target on shares of Diamondback Energy from $49.00 to $84.00 and gave the stock a “buy” rating in a report on Monday. Stephens boosted their price target on shares of Diamondback Energy from $56.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, December 22nd. Morgan Stanley upped their target price on shares of Diamondback Energy from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, January 20th. Finally, Truist upped their target price on shares of Diamondback Energy from $60.00 to $65.00 in a report on Wednesday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Diamondback Energy presently has an average rating of “Buy” and an average price target of $63.77.

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.

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Earnings History for Diamondback Energy (NASDAQ:FANG)

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