Brokerages Anticipate Diamondback Energy, Inc. (FANG) Will Announce Earnings of $1.25 Per Share
Equities analysts forecast that Diamondback Energy, Inc. (NASDAQ:FANG) will post $1.25 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Diamondback Energy’s earnings. The lowest EPS estimate is $0.74 and the highest is $1.53. Diamondback Energy reported earnings of $0.54 per share in the same quarter last year, which suggests a positive year over year growth rate of 131.5%. The company is expected to issue its next quarterly earnings results after the market closes on Monday, November 6th.
On average, analysts expect that Diamondback Energy will report full-year earnings of $5.04 per share for the current year, with EPS estimates ranging from $4.54 to $5.25. For the next fiscal year, analysts expect that the business will report earnings of $5.93 per share, with EPS estimates ranging from $2.72 to $8.12. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.44. The company had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. The firm’s quarterly revenue was up 137.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS.
Several research firms have weighed in on FANG. Stifel Nicolaus set a $129.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $110.00 target price (down previously from $125.00) on shares of Diamondback Energy in a research note on Saturday, July 22nd. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. BMO Capital Markets set a $110.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Saturday, August 12th. Finally, Bank of America Corporation began coverage on Diamondback Energy in a research note on Wednesday, July 19th. They set a “buy” rating and a $115.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.13.
In other news, VP Russell Pantermuehl sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $96.89, for a total transaction of $387,560.00. Following the sale, the vice president now directly owns 70,214 shares in the company, valued at $6,803,034.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul Molnar sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $95.04, for a total value of $475,200.00. Following the sale, the vice president now owns 42,563 shares in the company, valued at $4,045,187.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,805 shares of company stock worth $1,239,381. 0.41% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Diamondback Energy by 1.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock valued at $224,000 after purchasing an additional 40 shares during the period. Green Square Capital LLC increased its position in shares of Diamondback Energy by 1.2% during the second quarter. Green Square Capital LLC now owns 3,531 shares of the oil and natural gas company’s stock valued at $314,000 after purchasing an additional 42 shares during the period. Profund Advisors LLC increased its position in shares of Diamondback Energy by 1.5% during the second quarter. Profund Advisors LLC now owns 4,163 shares of the oil and natural gas company’s stock valued at $370,000 after purchasing an additional 62 shares during the period. American International Group Inc. increased its position in shares of Diamondback Energy by 5.8% during the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock valued at $239,000 after purchasing an additional 126 shares during the period. Finally, AT Bancorp increased its position in shares of Diamondback Energy by 1.8% during the second quarter. AT Bancorp now owns 8,475 shares of the oil and natural gas company’s stock valued at $753,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 98.59% of the company’s stock.
Shares of Diamondback Energy (FANG) traded up 0.93% on Thursday, hitting $102.53. 577,136 shares of the stock traded hands. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 28.19 and a beta of 1.08. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The company’s 50 day moving average is $97.13 and its 200 day moving average is $95.17.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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