Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at US Capital Advisors dropped their Q2 2019 earnings estimates for shares of Diamondback Energy in a research report issued on Monday, May 20th, Zacks Investment Research reports. US Capital Advisors analyst C. Horwitz now anticipates that the oil and natural gas company will post earnings of $2.42 per share for the quarter, down from their previous estimate of $3.18. US Capital Advisors also issued estimates for Diamondback Energy’s Q3 2019 earnings at $2.58 EPS, Q4 2019 earnings at $2.71 EPS, FY2019 earnings at $9.09 EPS, Q1 2020 earnings at $3.76 EPS, Q2 2020 earnings at $3.84 EPS, Q3 2020 earnings at $3.96 EPS, Q4 2020 earnings at $4.10 EPS, FY2020 earnings at $15.65 EPS, Q1 2021 earnings at $4.33 EPS and FY2021 earnings at $17.44 EPS.
Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $148.00 price target on shares of Diamondback Energy in a report on Monday, March 11th. ValuEngine raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Williams Capital reaffirmed a “buy” rating and set a $165.00 target price on shares of Diamondback Energy in a report on Wednesday, May 8th. Morgan Stanley upped their target price on shares of Diamondback Energy from $152.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Finally, Bank of America upped 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. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Diamondback Energy has a consensus rating of “Buy” and a consensus price target of $160.74.
NASDAQ FANG traded down $1.22 on Thursday, hitting $98.95. The company had a trading volume of 1,092,947 shares, compared to its average volume of 1,618,770. The firm has a market cap of $16.29 billion, a PE ratio of 16.86, a PEG ratio of 0.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.59 and a current ratio of 0.62. Diamondback Energy has a 12-month low of $85.19 and a 12-month high of $140.78.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $864.00 million during the quarter, compared to analyst estimates of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The firm’s revenue was up 80.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of FANG. Legal & General Group Plc lifted its stake in Diamondback Energy by 4.3% during the third quarter. Legal & General Group Plc now owns 400,932 shares of the oil and natural gas company’s stock worth $54,202,000 after purchasing an additional 16,456 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Diamondback Energy by 0.3% during the third quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock worth $1,160,994,000 after buying an additional 23,673 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Diamondback Energy during the fourth quarter worth $751,000. Boston Advisors LLC increased its holdings in shares of Diamondback Energy by 31.5% during the fourth quarter. Boston Advisors LLC now owns 3,615 shares of the oil and natural gas company’s stock worth $335,000 after buying an additional 865 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Diamondback Energy during the fourth quarter worth $95,000. 98.97% of the stock is currently owned by institutional investors.
In other news, insider Randall J. Holder sold 4,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $104.13, for a total transaction of $416,520.00. Following the transaction, the insider now owns 14,448 shares of the company’s stock, valued at approximately $1,504,470.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the transaction, the vice president now directly owns 117,107 shares in the company, valued at approximately $13,137,063.26. Insiders own 0.47% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.188 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 24th. This represents a $0.75 annualized dividend and a dividend yield of 0.76%. Diamondback Energy’s payout ratio is presently 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.