Capital One Financial Research Analysts Lower Earnings Estimates for Diamondback Energy Inc (NASDAQ:FANG)
Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at Capital One Financial lowered their Q2 2020 EPS estimates for shares of Diamondback Energy in a report released on Monday, March 23rd. Capital One Financial analyst R. Tullis now anticipates that the oil and natural gas company will post earnings of $0.64 per share for the quarter, down from their previous forecast of $0.98. Capital One Financial also issued estimates for Diamondback Energy’s Q3 2020 earnings at $0.51 EPS, Q4 2020 earnings at $0.52 EPS, FY2020 earnings at $3.01 EPS, FY2021 earnings at $1.81 EPS and FY2022 earnings at $3.10 EPS.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 18th. The oil and natural gas company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.13. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Diamondback Energy had a net margin of 6.05% and a return on equity of 7.00%. Diamondback Energy’s quarterly revenue was up 74.4% compared to the same quarter last year. During the same period last year, the firm posted $1.21 EPS.
Diamondback Energy stock opened at $24.17 on Thursday. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 0.18 and a beta of 1.09. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $54.17 and its two-hundred day moving average price is $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. Investors of record on Tuesday, March 3rd were given a dividend of $0.375 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 2nd. This represents a $1.50 annualized dividend and a yield of 6.21%. Diamondback Energy’s dividend payout ratio is 21.65%.
In related news, CFO Hof Matthew Kaes Van’t purchased 4,750 shares of the stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $17.23 per share, with a total value of $81,842.50. Following the purchase, the chief financial officer now directly owns 52,130 shares in the company, valued at approximately $898,199.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Travis D. Stice purchased 17,146 shares of the stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of $28.40 per share, with a total value of $486,946.40. The disclosure for this purchase can be found here. 0.47% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. NS Partners Ltd increased its stake in shares of Diamondback Energy by 0.6% in the 4th quarter. NS Partners Ltd now owns 103,414 shares of the oil and natural gas company’s stock valued at $9,603,000 after acquiring an additional 641 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Diamondback Energy by 24.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 316,054 shares of the oil and natural gas company’s stock worth $29,349,000 after purchasing an additional 61,172 shares in the last quarter. Independent Advisor Alliance bought a new stake in Diamondback Energy during the 4th quarter worth approximately $253,000. SWS Partners bought a new stake in Diamondback Energy during the 3rd quarter worth approximately $266,000. Finally, Conning Inc. bought a new stake in Diamondback Energy during the 4th quarter worth approximately $223,000. 96.90% of the stock is owned by institutional investors.
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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