Diamondback Energy Inc (NASDAQ:FANG) – Investment analysts at SunTrust Banks reduced their Q2 2020 EPS estimates for shares of Diamondback Energy in a research report issued to clients and investors on Thursday, June 25th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will post earnings of $0.01 per share for the quarter, down from their prior forecast of $0.17. SunTrust Banks currently has a “Buy” rating and a $52.00 target price on the stock. SunTrust Banks also issued estimates for Diamondback Energy’s Q3 2020 earnings at $0.07 EPS, FY2020 earnings at $1.82 EPS, Q3 2021 earnings at $0.81 EPS and FY2021 earnings at $2.69 EPS.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.16. Diamondback Energy had a negative net margin of 1.05% and a positive return on equity of 7.03%. The firm had revenue of $899.00 million for the quarter, compared to the consensus estimate of $968.57 million. During the same quarter in the previous year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year.
Other research analysts also recently issued research reports about the stock. Mizuho lifted their price objective on shares of Diamondback Energy from $61.00 to $62.00 in a research report on Friday, June 19th. Susquehanna Bancshares lifted their target price on shares of Diamondback Energy from $42.00 to $50.00 in a research note on Tuesday, May 5th. BMO Capital Markets cut shares of Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $45.00 target price for the company. in a research note on Monday. Credit Suisse Group reiterated an “outperform” rating and issued a $52.00 target price on shares of Diamondback Energy in a research note on Thursday, March 19th. Finally, Piper Sandler cut shares of Diamondback Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $154.00 to $36.00 in a research note on Tuesday, March 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $70.78.
Shares of Diamondback Energy stock opened at $41.82 on Monday. The firm’s 50 day moving average price is $44.90 and its 200-day moving average price is $56.49. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. Diamondback Energy has a 52-week low of $14.55 and a 52-week high of $111.84. The company has a market cap of $6.54 billion, a P/E ratio of -107.23, a PEG ratio of 0.78 and a beta of 2.21.
Several institutional investors and hedge funds have recently made changes to their positions in FANG. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Diamondback Energy in the first quarter valued at about $35,000. Ancora Advisors LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $37,000. Capital Wealth Alliance LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $38,000. Atlas Capital Advisors LLC lifted its position in shares of Diamondback Energy by 53.1% during the first quarter. Atlas Capital Advisors LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $47,000 after purchasing an additional 623 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $51,000. 96.25% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Hof Matthew Kaes Van’t acquired 1,800 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The stock was purchased at an average price of $46.92 per share, with a total value of $84,456.00. Following the completion of the acquisition, the chief financial officer now owns 53,930 shares of the company’s stock, valued at approximately $2,530,395.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.
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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