Brokerages Expect Diamondback Energy Inc (NASDAQ:FANG) to Post $1.86 EPS

Equities research analysts expect that Diamondback Energy Inc (NASDAQ:FANG) will report earnings of $1.86 per share for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Diamondback Energy’s earnings, with the lowest EPS estimate coming in at $1.55 and the highest estimate coming in at $2.13. Diamondback Energy reported earnings of $1.21 per share during the same quarter last year, which would indicate a positive year over year growth rate of 53.7%. The business is expected to report its next quarterly earnings results on Tuesday, February 18th.

On average, analysts expect that Diamondback Energy will report full year earnings of $6.53 per share for the current fiscal year, with EPS estimates ranging from $6.26 to $6.93. For the next year, analysts anticipate that the business will report earnings of $8.83 per share, with EPS estimates ranging from $7.57 to $11.19. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last announced 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 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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business posted $1.67 earnings per share. The firm’s quarterly revenue was up 81.6% compared to the same quarter last year.

A number of brokerages have recently issued reports on FANG. Williams Capital reaffirmed a “buy” rating and set a $165.00 price objective on shares of Diamondback Energy in a research note on Tuesday, July 30th. Wells Fargo & Co reduced their price objective on Diamondback Energy from $148.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Imperial Capital reduced their price objective on Diamondback Energy from $100.00 to $88.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. KeyCorp cut their target price on Diamondback Energy from $133.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Finally, Morgan Stanley cut their target price on Diamondback Energy from $123.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $138.64.

In other news, Director Michael P. Cross sold 1,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $104.75, for a total transaction of $104,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $204,500.00. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock valued at $1,321,690 over the last quarter. Company insiders own 0.47% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FANG. Nuveen Asset Management LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter valued at $303,291,000. BlackRock Inc. lifted its stake in shares of Diamondback Energy by 4.7% during the 2nd quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after buying an additional 485,647 shares in the last quarter. Balyasny Asset Management LLC lifted its stake in shares of Diamondback Energy by 14,382.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 468,943 shares of the oil and natural gas company’s stock valued at $51,101,000 after buying an additional 465,705 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Diamondback Energy by 47.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,406,516 shares of the oil and natural gas company’s stock valued at $153,268,000 after buying an additional 453,267 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Diamondback Energy by 43.2% during the 2nd quarter. Bessemer Group Inc. now owns 941,887 shares of the oil and natural gas company’s stock valued at $102,638,000 after buying an additional 284,343 shares in the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.

Shares of NASDAQ:FANG traded down $1.54 on Thursday, reaching $74.19. 1,619,700 shares of the company traded hands, compared to its average volume of 1,860,554. The business’s 50-day simple moving average is $82.96 and its 200 day simple moving average is $96.69. Diamondback Energy has a 52 week low of $73.71 and a 52 week high of $115.97. The stock has a market capitalization of $12.37 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.95 and a beta of 0.78. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.75 annualized dividend and a dividend yield of 1.01%. Diamondback Energy’s payout ratio is 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.

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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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