Analysts expect Diamondback Energy Inc (NASDAQ:FANG) to report $903.15 million in sales for the current quarter, according to Zacks Investment Research. Twelve analysts have made estimates for Diamondback Energy’s earnings, with the lowest sales estimate coming in at $752.31 million and the highest estimate coming in at $986.00 million. Diamondback Energy reported sales of $480.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 88.1%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Diamondback Energy will report full year sales of $4.10 billion for the current fiscal year, with estimates ranging from $3.69 billion to $4.51 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.36 billion, with estimates ranging from $4.89 billion to $5.99 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.41). The business had revenue of $633.06 million during the quarter, compared to analyst estimates of $663.21 million. Diamondback Energy had a return on equity of 7.83% and a net margin of 38.84%.

FANG has been the subject of several research reports. Morgan Stanley dropped their price target on shares of Diamondback Energy from $171.00 to $153.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. Cowen initiated coverage on shares of Diamondback Energy in a research note on Thursday, November 29th. They issued an “outperform” rating for the company. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research note on Monday, December 3rd. They issued a “buy” rating and a $177.00 price target for the company. Stephens initiated coverage on shares of Diamondback Energy in a research note on Thursday, December 6th. They issued an “overweight” rating and a $177.00 price target for the company. Finally, Citigroup restated a “buy” rating and issued a $155.00 price target on shares of Diamondback Energy in a research note on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy has a consensus rating of “Buy” and an average target price of $159.86.

In related news, insider Michael L. Hollis acquired 5,313 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of $95.12 per share, for a total transaction of $505,372.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Hof Matthew Kaes Van’t sold 1,000 shares of the company’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $89.91, for a total transaction of $89,910.00. Following the completion of the transaction, the vice president now owns 5,757 shares of the company’s stock, valued at approximately $517,611.87. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors boosted its stake in Diamondback Energy by 4.8% in the third quarter. Capital World Investors now owns 11,931,000 shares of the oil and natural gas company’s stock valued at $1,612,952,000 after acquiring an additional 542,279 shares in the last quarter. BlackRock Inc. boosted its stake in Diamondback Energy by 103.8% in the fourth quarter. BlackRock Inc. now owns 10,172,829 shares of the oil and natural gas company’s stock valued at $943,023,000 after acquiring an additional 5,181,063 shares in the last quarter. Vanguard Group Inc boosted its stake in Diamondback Energy by 0.3% in the third quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock valued at $1,160,994,000 after acquiring an additional 23,673 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Diamondback Energy by 15.2% in the third quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock valued at $1,011,079,000 after acquiring an additional 984,124 shares in the last quarter. Finally, Boston Partners boosted its stake in Diamondback Energy by 135.9% in the fourth quarter. Boston Partners now owns 3,424,654 shares of the oil and natural gas company’s stock valued at $317,465,000 after acquiring an additional 1,973,018 shares in the last quarter.

Shares of NASDAQ:FANG traded down $1.82 during trading on Friday, hitting $102.39. The company’s stock had a trading volume of 1,755,049 shares, compared to its average volume of 1,926,487. The company has a market cap of $16.52 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.64 and a beta of 0.80. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. Diamondback Energy has a fifty-two week low of $85.19 and a fifty-two week high of $140.78.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 21st were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.49%. Diamondback Energy’s payout ratio is currently 8.52%.

Diamondback Energy Company Profile

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.

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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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