Analysts expect Diamondback Energy, Inc. (NASDAQ:FANG) to report sales of $879.84 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Diamondback Energy’s earnings. The highest sales estimate is $937.00 million and the lowest is $824.30 million. Diamondback Energy posted sales of $899.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 2.1%. The business is expected to issue its next quarterly earnings report on Monday, February 22nd.
According to Zacks, analysts expect that Diamondback Energy will report full-year sales of $4.33 billion for the current fiscal year, with estimates ranging from $3.91 billion to $4.73 billion. For the next year, analysts anticipate that the firm will post sales of $4.75 billion, with estimates ranging from $4.33 billion to $5.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Sunday, February 21st. The oil and natural gas company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Diamondback Energy had a negative net margin of 135.48% and a positive return on equity of 5.10%. The company had revenue of $769.00 million during the quarter, compared to the consensus estimate of $768.65 million. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The firm’s quarterly revenue was down 30.3% on a year-over-year basis.
A number of analysts have weighed in on the stock. KeyCorp raised their price objective on shares of Diamondback Energy from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, February 11th. Royal Bank of Canada raised their price objective on shares of Diamondback Energy from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. TD Securities raised their price objective on shares of Diamondback Energy from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Capital lifted their target price on shares of Diamondback Energy from $49.00 to $84.00 and gave the company a “buy” rating in a report on Monday. Finally, Scotiabank initiated coverage on shares of Diamondback Energy in a report on Monday, February 1st. They issued a “sector outperform” rating and a $84.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Diamondback Energy has a consensus rating of “Buy” and an average target price of $64.63.
Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new stake in shares of Diamondback Energy during the 3rd quarter worth $25,000. Vantage Consulting Group Inc purchased a new stake in shares of Diamondback Energy in the 4th quarter worth about $26,000. Parkside Financial Bank & Trust boosted its position in shares of Diamondback Energy by 182.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,008 shares of the oil and natural gas company’s stock worth $30,000 after buying an additional 651 shares in the last quarter. AJO LP purchased a new stake in shares of Diamondback Energy in the 4th quarter worth about $33,000. Finally, IFP Advisors Inc boosted its position in shares of Diamondback Energy by 125.0% in the 4th quarter. IFP Advisors Inc now owns 900 shares of the oil and natural gas company’s stock worth $43,000 after buying an additional 500 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.
FANG stock traded up $2.61 during midday trading on Tuesday, reaching $71.01. 5,397,270 shares of the company were exchanged, compared to its average volume of 3,038,848. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.45. Diamondback Energy has a 1-year low of $14.55 and a 1-year high of $73.31. The stock’s 50-day simple moving average is $61.88 and its 200 day simple moving average is $43.40. The company has a market cap of $11.22 billion, a price-to-earnings ratio of -2.61, a price-to-earnings-growth ratio of 0.59 and a beta of 2.59.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 11th. Shareholders of record on Thursday, March 4th will be given a dividend of $0.40 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Diamondback Energy’s payout ratio is presently 21.65%.
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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