Diamondback Energy (NASDAQ:FANG) issued its earnings results on Sunday. The oil and natural gas company reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.57, MarketWatch Earnings reports. Diamondback Energy had a negative net margin of 135.48% and a positive return on equity of 5.10%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $864.18 million. During the same quarter last year, the firm posted $1.45 EPS. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year.
Diamondback Energy stock traded down $4.92 during mid-day trading on Tuesday, hitting $79.00. 200,275 shares of the company’s stock were exchanged, compared to its average volume of 2,911,177. Diamondback Energy has a 1-year low of $23.63 and a 1-year high of $88.75. The stock has a 50 day moving average of $77.44 and a two-hundred day moving average of $58.06. The stock has a market cap of $14.30 billion, a P/E ratio of -2.96, a P/E/G ratio of 0.59 and a beta of 2.59. The company has a current ratio of 0.45, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 11th. Investors of record on Thursday, March 4th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 3rd. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Diamondback Energy’s dividend payout ratio is currently 23.09%.
In other Diamondback Energy news, CEO Travis D. Stice sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $77.24, for a total value of $146,756.00. Following the transaction, the chief financial officer now owns 67,043 shares in the company, valued at approximately $5,178,401.32. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Truist upped their target price on Diamondback Energy from $105.00 to $115.00 in a research report on Thursday, April 8th. Truist Securities increased their price objective on shares of Diamondback Energy from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, March 15th. Siebert Williams Shank restated a “buy” rating and issued a $89.00 target price on shares of Diamondback Energy in a research note on Tuesday, April 13th. Evercore ISI initiated coverage on shares of Diamondback Energy in a report on Wednesday, April 7th. They issued an “outperform” rating on the stock. Finally, Mizuho raised their target price on Diamondback Energy from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, April 26th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $81.35.
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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