Diamondback Energy Inc (NASDAQ:FANG) – Equities researchers at US Capital Advisors lowered their Q2 2019 earnings per share (EPS) estimates for shares of Diamondback Energy in a research note issued on Monday, May 20th, according to Zacks Investment Research. US Capital Advisors analyst C. Horwitz now anticipates that the oil and natural gas company will post earnings per share of $2.42 for the quarter, down from their previous forecast 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.
A number of other research analysts have also recently commented on FANG. BidaskClub upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Williams Capital restated a “buy” rating and issued a $153.00 price objective on shares of Diamondback Energy in a report on Wednesday, February 20th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $147.00 to $154.00 and gave the stock an “overweight” rating in a report on Thursday, February 21st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $148.00 price objective on shares of Diamondback Energy in a report on Monday, March 11th. Finally, Wells Fargo & Co boosted their price objective on shares of Diamondback Energy from $161.00 to $177.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $160.74.
Diamondback Energy stock traded down $1.22 during midday trading on Thursday, hitting $98.95. The stock had a trading volume of 1,061,774 shares, compared to its average volume of 1,855,372. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.32. The firm has a market cap of $16.17 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.59 and a beta of 0.83. Diamondback Energy has a 12 month low of $85.19 and a 12 month high of $140.78.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $864.00 million during the quarter, compared to the consensus estimate of $893.16 million. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. Diamondback Energy’s quarterly revenue was up 80.4% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FANG. Ranger Investment Management L.P. purchased a new position in shares of Diamondback Energy in the fourth quarter worth about $25,000. Berman Capital Advisors LLC increased its position in Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 188 shares during the period. Manchester Capital Management LLC purchased a new position in Diamondback Energy during the 1st quarter valued at $34,000. Bronfman E.L. Rothschild L.P. increased its position in Diamondback Energy by 136.7% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 231 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in Diamondback Energy by 114.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 214 shares during the period. 98.97% of the stock is currently owned by institutional investors.
In related news, insider Randall J. Holder sold 4,000 shares of the firm’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 directly owns 14,448 shares of the company’s stock, valued at $1,504,470.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Russell Pantermuehl sold 5,000 shares of the firm’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 $13,137,063.26. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th were paid a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 24th. Diamondback Energy’s dividend payout ratio (DPR) 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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