Diamondback Energy, Inc. (FANG) to Release Earnings on Tuesday
Diamondback Energy, Inc. (NASDAQ:FANG) will release its earnings data after the market closes on Tuesday, August 1st. Analysts expect Diamondback Energy to post earnings of $0.94 per share for the quarter.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.43. Diamondback Energy had a net margin of 0.62% and a return on equity of 6.51%. The business had revenue of $235.23 million during the quarter, compared to the consensus estimate of $218.62 million. On average, analysts expect Diamondback Energy to post $4.57 EPS for the current fiscal year and $5.01 EPS for the next fiscal year.
Shares of Diamondback Energy, Inc. (FANG) opened at 93.21 on Tuesday. Diamondback Energy, Inc. has a 52 week low of $82.77 and a 52 week high of $114.00. The firm has a market capitalization of $9.15 billion, a P/E ratio of 1983.19 and a beta of 1.06. The company has a 50-day moving average of $88.95 and a 200 day moving average of $98.92.
In other Diamondback Energy news, Director Steven E. West bought 2,400 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average price of $103.45 per share, with a total value of $248,280.00. Following the acquisition, the director now owns 2,400 shares in the company, valued at $248,280. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total transaction of $101,520.00. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $110.00 price objective (down from $125.00) on shares of Diamondback Energy in a research report on Saturday. Roth Capital set a $130.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Bank of America Corporation assumed coverage on shares of Diamondback Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $115.00 price objective for the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Diamondback Energy in a research report on Tuesday, June 27th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $121.00 price objective on shares of Diamondback Energy in a research report on Monday, March 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $115.89.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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