Diamondback Energy (NASDAQ:FANG) – Equities researchers at Seaport Global Securities increased their FY2018 EPS estimates for Diamondback Energy in a research report issued to clients and investors on Tuesday, May 15th. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings per share of $7.11 for the year, up from their prior estimate of $6.86. Seaport Global Securities also issued estimates for Diamondback Energy’s Q4 2019 earnings at $3.57 EPS and FY2019 earnings at $11.80 EPS.
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Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.05. Diamondback Energy had a return on equity of 10.53% and a net margin of 35.09%. The firm had revenue of $480.20 million for the quarter, compared to analysts’ expectations of $445.78 million. During the same quarter last year, the firm earned $1.04 earnings per share. The firm’s revenue for the quarter was up 104.1% compared to the same quarter last year.
A number of other research analysts have also recently weighed in on the company. Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Roth Capital lifted their target price on Diamondback Energy from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Credit Suisse Group set a $143.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. KeyCorp set a $137.00 target price on Diamondback Energy and gave the company a “buy” rating in a report on Sunday, January 21st. Finally, Morgan Stanley reduced their target price on Diamondback Energy to $159.00 and set an “overweight” rating on the stock in a report on Friday, April 20th. Three research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $142.04.
Shares of Diamondback Energy stock opened at $132.13 on Thursday. Diamondback Energy has a twelve month low of $128.00 and a twelve month high of $130.10. The firm has a market capitalization of $12.67 billion, a P/E ratio of 21.67, a PEG ratio of 0.69 and a beta of 0.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.52 and a current ratio of 0.53.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Next Century Growth Investors LLC purchased a new stake in shares of Diamondback Energy during the first quarter worth about $121,000. ClariVest Asset Management LLC increased its position in shares of Diamondback Energy by 14,557.1% during the first quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock worth $130,000 after acquiring an additional 1,019 shares during the last quarter. Signaturefd LLC purchased a new stake in shares of Diamondback Energy during the first quarter worth about $132,000. Zions Bancorporation purchased a new stake in shares of Diamondback Energy during the first quarter worth about $136,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $149,000.
In other news, CEO Travis D. Stice sold 87,150 shares of Diamondback Energy stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $125.20, for a total transaction of $10,911,180.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael L. Hollis sold 3,000 shares of Diamondback Energy stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $118.80, for a total value of $356,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,431 shares of company stock worth $17,070,232. 0.41% of the stock is currently owned by insiders.
The business also recently disclosed a special dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Monday, May 21st will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, May 18th.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.