Brokerages expect Diamondback Energy Inc (NASDAQ:FANG) to post earnings of $1.88 per share for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for Diamondback Energy’s earnings, with the lowest EPS estimate coming in at $1.10 and the highest estimate coming in at $2.31. Diamondback Energy posted earnings per share of $1.67 during the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Diamondback Energy will report full year earnings of $7.21 per share for the current year, with EPS estimates ranging from $6.73 to $8.05. For the next year, analysts forecast that the company will report earnings of $10.97 per share, with EPS estimates ranging from $8.40 to $25.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.04). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The company’s revenue for the quarter was up 93.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 earnings per share.

FANG has been the topic of several analyst reports. ValuEngine downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Friday, July 26th. BidaskClub upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Northland Securities restated a “buy” rating and set a $150.00 target price on shares of Diamondback Energy in a research report on Wednesday, August 7th. Bank of America upped their target price on Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, JPMorgan Chase & Co. reduced their price target on Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $152.95.

In other news, CEO Travis D. Stice purchased 4,186 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $95.55 per share, with a total value of $399,972.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Russell Pantermuehl sold 5,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $107.28, for a total value of $536,400.00. Following the transaction, the vice president now directly owns 112,107 shares in the company, valued at approximately $12,026,838.96. The disclosure for this sale can be found here. Insiders have sold a total of 16,500 shares of company stock worth $1,700,415 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC increased its position in Diamondback Energy by 1,100.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 220 shares during the period. Berman Capital Advisors LLC lifted its position in shares of Diamondback Energy by 180.8% in the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 188 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $32,000. Manchester Capital Management LLC purchased a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $34,000. Finally, Commonwealth Bank of Australia boosted its stake in shares of Diamondback Energy by 81.7% during the second quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 99.30% of the company’s stock.

NASDAQ FANG traded down $0.74 on Friday, reaching $98.72. 1,199,595 shares of the stock were exchanged, compared to its average volume of 1,765,221. Diamondback Energy has a one year low of $85.19 and a one year high of $140.78. The firm has a market capitalization of $16.22 billion, a PE ratio of 16.82, a PEG ratio of 0.47 and a beta of 0.83. The company’s 50-day simple moving average is $97.56 and its two-hundred day simple moving average is $102.58. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.188 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.75 annualized dividend and a yield of 0.76%. Diamondback Energy’s dividend payout ratio (DPR) is currently 12.78%.

About Diamondback Energy

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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