Analysts predict that Diamondback Energy (NASDAQ:FANG) will post $458.33 million in sales for the current quarter, Zacks reports. Fourteen analysts have made estimates for Diamondback Energy’s earnings. The highest sales estimate is $508.00 million and the lowest is $410.00 million. Diamondback Energy posted sales of $269.43 million in the same quarter last year, which suggests a positive year-over-year growth rate of 70.1%. The company is scheduled to issue its next earnings results on Tuesday, August 7th.
On average, analysts expect that Diamondback Energy will report full-year sales of $1.93 billion for the current year, with estimates ranging from $1.73 billion to $2.17 billion. For the next financial year, analysts expect that the company will post sales of $2.54 billion per share, with estimates ranging from $2.33 billion to $2.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Diamondback Energy.
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Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The firm had revenue of $480.20 million for the quarter, compared to analyst estimates of $445.78 million. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The business’s revenue for the quarter was up 104.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS.
FANG has been the topic of several analyst reports. Zacks Investment Research lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Roth Capital boosted their target price on shares of Diamondback Energy from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Morgan Stanley reduced their target price on shares of Diamondback Energy to $159.00 and set an “overweight” rating on the stock in a research note on Friday, April 20th. Credit Suisse Group set a $143.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, KeyCorp set a $137.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Sunday, January 21st. Three equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $142.04.
Shares of Diamondback Energy opened at $136.26 on Friday, MarketBeat Ratings reports. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 0.69 and a beta of 0.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.52 and a current ratio of 0.53. Diamondback Energy has a 52-week low of $128.00 and a 52-week high of $130.10.
The business also recently declared a special dividend, which will be paid on Tuesday, May 29th. Investors of record on Monday, May 21st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, May 18th.
In related news, CFO Teresa L. Dick sold 2,500 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $130.97, for a total transaction of $327,425.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Randall J. Holder sold 7,120 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.15, for a total transaction of $883,948.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,620 shares of company stock worth $1,567,773. 0.41% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Next Century Growth Investors LLC bought a new stake in Diamondback Energy during the 1st quarter worth about $121,000. ClariVest Asset Management LLC raised its holdings in Diamondback Energy by 14,557.1% during the 1st quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock worth $130,000 after purchasing an additional 1,019 shares during the last quarter. Signaturefd LLC bought a new stake in Diamondback Energy during the 1st quarter worth about $132,000. Zions Bancorporation bought a new stake in Diamondback Energy during the 1st quarter worth about $136,000. Finally, Captrust Financial Advisors bought a new stake in Diamondback Energy during the 4th quarter worth about $149,000.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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