Diamondback Energy (FANG) to Release Quarterly Earnings on Tuesday

Diamondback Energy (NASDAQ:FANG) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $4.23 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $5.29 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts expect Diamondback Energy to post $19 EPS for the current fiscal year and $21 EPS for the next fiscal year.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $202.58 on Tuesday. The business has a fifty day moving average of $190.63 and a 200-day moving average of $168.24. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The stock has a market cap of $36.13 billion, a price-to-earnings ratio of 11.68 and a beta of 1.93. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $211.96.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 6.08%. Diamondback Energy’s dividend payout ratio (DPR) is 20.76%.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the completion of the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,675 shares of company stock valued at $11,311,096. Insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FANG. Raymond James lowered their price objective on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Morgan Stanley decreased their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. Evercore ISI raised their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Finally, Stifel Nicolaus boosted their target price on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.26.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, 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.