Diamondback Energy Inc (NASDAQ:FANG) – Equities research analysts at Capital One Financial decreased their Q1 2020 earnings per share estimates for Diamondback Energy in a note issued to investors on Monday, March 23rd. Capital One Financial analyst R. Tullis now forecasts that the oil and natural gas company will earn $1.35 per share for the quarter, down from their previous estimate of $1.58. Capital One Financial also issued estimates for Diamondback Energy’s FY2023 earnings at $3.79 EPS.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 18th. The oil and natural gas company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.80 by $0.13. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Diamondback Energy had a net margin of 6.05% and a return on equity of 7.00%. Diamondback Energy’s revenue was up 74.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS.

FANG has been the subject of several other research reports. Royal Bank of Canada reduced their price objective on shares of Diamondback Energy from $135.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, March 10th. TD Securities reduced their price objective on shares of Diamondback Energy from $67.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Mizuho reiterated a “buy” rating and set a $130.00 price objective on shares of Diamondback Energy in a research note on Wednesday, February 19th. BidaskClub upgraded shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $52.00 price objective on shares of Diamondback Energy in a research note on Thursday, March 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $106.08.

NASDAQ FANG opened at $24.17 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 0.36. The firm has a market cap of $3.22 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 0.15 and a beta of 1.09. The company has a 50 day moving average price of $54.17 and a 200 day moving average price of $78.17. Diamondback Energy has a 52 week low of $14.55 and a 52 week high of $114.14.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were paid a dividend of $0.375 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.50 dividend on an annualized basis and a yield of 6.21%. Diamondback Energy’s dividend payout ratio is presently 21.65%.

In other Diamondback Energy news, CEO Travis D. Stice acquired 17,146 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $28.40 per share, for a total transaction of $486,946.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hof Matthew Kaes Van’t acquired 4,750 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was acquired at an average price of $17.23 per share, for a total transaction of $81,842.50. Following the purchase, the chief financial officer now directly owns 52,130 shares of the company’s stock, valued at $898,199.90. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FANG. Capital Research Global Investors increased its stake in shares of Diamondback Energy by 38.0% in the fourth quarter. Capital Research Global Investors now owns 19,577,175 shares of the oil and natural gas company’s stock worth $1,817,936,000 after acquiring an additional 5,391,907 shares during the period. Millennium Management LLC increased its stake in shares of Diamondback Energy by 358.9% in the third quarter. Millennium Management LLC now owns 2,349,370 shares of the oil and natural gas company’s stock worth $211,231,000 after acquiring an additional 1,837,358 shares during the period. Bank of America Corp DE increased its stake in shares of Diamondback Energy by 189.6% in the fourth quarter. Bank of America Corp DE now owns 2,404,325 shares of the oil and natural gas company’s stock worth $223,265,000 after acquiring an additional 1,574,081 shares during the period. Norges Bank acquired a new stake in shares of Diamondback Energy in the fourth quarter worth $139,421,000. Finally, Ceredex Value Advisors LLC increased its stake in shares of Diamondback Energy by 79.8% in the fourth quarter. Ceredex Value Advisors LLC now owns 2,114,918 shares of the oil and natural gas company’s stock worth $196,391,000 after acquiring an additional 938,718 shares during the period. Hedge funds and other institutional investors own 96.90% of the company’s stock.

About Diamondback Energy

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

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