Zacks: Brokerages Expect Diamondback Energy, Inc. (NASDAQ:FANG) Will Post Earnings of $6.29 Per Share

Wall Street analysts expect Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) to report $6.29 earnings per share (EPS) for the current quarter, according to Zacks. Eight analysts have issued estimates for Diamondback Energy’s earnings. The lowest EPS estimate is $5.28 and the highest is $7.78. Diamondback Energy reported earnings of $2.40 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 162.1%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Diamondback Energy will report full-year earnings of $24.64 per share for the current financial year, with EPS estimates ranging from $21.98 to $31.62. For the next fiscal year, analysts expect that the firm will report earnings of $23.99 per share, with EPS estimates ranging from $19.36 to $32.37. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Diamondback Energy.

Diamondback Energy (NASDAQ:FANGGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.44. Diamondback Energy had a net margin of 32.10% and a return on equity of 16.33%. During the same period in the prior year, the company earned $2.30 earnings per share.

A number of brokerages recently issued reports on FANG. KeyCorp lifted their price target on shares of Diamondback Energy from $152.00 to $164.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. Credit Suisse Group lifted their price target on shares of Diamondback Energy from $138.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 23rd. TheStreet upgraded shares of Diamondback Energy from a “c+” rating to a “b” rating in a research report on Tuesday, February 22nd. Scotiabank boosted their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 9th. Finally, Bank of America downgraded shares of Diamondback Energy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $165.00 to $170.00 in a research report on Tuesday, March 8th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $160.58.

Diamondback Energy stock traded up $2.54 during trading on Wednesday, reaching $138.65. The stock had a trading volume of 25,634 shares, compared to its average volume of 1,809,674. Diamondback Energy has a 52-week low of $65.93 and a 52-week high of $147.99. The business has a 50 day moving average price of $134.98 and a 200 day moving average price of $122.65. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The stock has a market cap of $24.60 billion, a PE ratio of 9.24, a P/E/G ratio of 0.23 and a beta of 2.20.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 23rd. Investors of record on Thursday, May 12th will be given a $0.70 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, May 11th. This represents a $2.80 annualized dividend and a yield of 2.02%. Diamondback Energy’s dividend payout ratio is 15.82%.

In other Diamondback Energy news, VP Thomas F. Hawkins sold 8,000 shares of the business’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $137.68, for a total value of $1,101,440.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Daniel N. Wesson sold 3,500 shares of the business’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $134.95, for a total transaction of $472,325.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,000 shares of company stock valued at $3,319,960. 0.43% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of FANG. Voya Investment Management LLC grew its stake in Diamondback Energy by 136.9% in the 3rd quarter. Voya Investment Management LLC now owns 2,213,030 shares of the oil and natural gas company’s stock valued at $209,508,000 after acquiring an additional 1,279,031 shares during the last quarter. Invesco Ltd. lifted its holdings in Diamondback Energy by 38.9% in the 4th quarter. Invesco Ltd. now owns 3,311,337 shares of the oil and natural gas company’s stock valued at $357,129,000 after purchasing an additional 927,878 shares in the last quarter. THRC Management LLC purchased a new position in Diamondback Energy in the 4th quarter valued at about $86,532,000. State Street Corp lifted its holdings in Diamondback Energy by 5.8% in the 4th quarter. State Street Corp now owns 11,173,356 shares of the oil and natural gas company’s stock valued at $1,205,046,000 after purchasing an additional 607,766 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Diamondback Energy by 990.8% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 505,677 shares of the oil and natural gas company’s stock worth $54,537,000 after acquiring an additional 459,318 shares during the period. 89.97% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Company Profile (Get Rating)

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 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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