$295.32 Million in Sales Expected for Diamondback Energy, Inc. (FANG) This Quarter
Equities analysts predict that Diamondback Energy, Inc. (NASDAQ:FANG) will post sales of $295.32 million for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Diamondback Energy’s earnings, with the highest sales estimate coming in at $314.75 million and the lowest estimate coming in at $271.10 million. Diamondback Energy reported sales of $142.13 million during the same quarter last year, which indicates a positive year-over-year growth rate of 107.8%. The company is expected to report its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Diamondback Energy will report full-year sales of $295.32 million for the current year, with estimates ranging from $1.09 billion to $1.20 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.54 billion per share, with estimates ranging from $1.12 billion to $1.95 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.44. The company had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm’s revenue for the quarter was up 137.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS.
Several equities analysts recently issued reports on FANG shares. Scotiabank set a $95.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. BMO Capital Markets reissued a “buy” rating and issued a $100.00 target price on shares of Diamondback Energy in a report on Tuesday, June 27th. Northland Securities set a $125.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Monday, July 17th. Bank of America Corporation began coverage on Diamondback Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price target for the company. Finally, Roth Capital raised their price target on Diamondback Energy from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $120.36.
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In related news, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total transaction of $57,518.50. Following the completion of the sale, the vice president now owns 4,950 shares of the company’s stock, valued at $438,025.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,805 shares of company stock worth $1,029,501. Insiders own 0.41% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Johnson Financial Group Inc. acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $102,000. Cubist Systematic Strategies LLC grew its stake in shares of Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after buying an additional 700 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Diamondback Energy during the 1st quarter worth $201,000. Turner Investments LLC acquired a new stake in shares of Diamondback Energy during the 1st quarter worth $215,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth $215,000.
Shares of Diamondback Energy (NASDAQ:FANG) opened at 97.96 on Monday. Diamondback Energy has a 52 week low of $82.77 and a 52 week high of $114.00. The firm has a market cap of $9.61 billion, a PE ratio of 26.93 and a beta of 1.08. The firm’s 50-day moving average is $91.17 and its 200 day moving average is $95.46.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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