Wall Street brokerages forecast that Diamondback Energy, Inc. (NASDAQ:FANG) will report $296.52 million in sales for the current quarter, Zacks reports. Eleven analysts have provided estimates for Diamondback Energy’s earnings, with the lowest sales estimate coming in at $271.10 million and the highest estimate coming in at $337.17 million. Diamondback Energy reported sales of $142.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 108.6%. The business is expected to issue its next earnings report on Monday, November 6th.

According to Zacks, analysts expect that Diamondback Energy will report full year sales of $296.52 million for the current fiscal year, with estimates ranging from $1.08 billion to $1.23 billion. For the next year, analysts forecast that the firm will post sales of $1.56 billion per share, with estimates ranging from $1.12 billion to $2.06 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The firm had revenue of $267.40 million for the quarter, compared to analyst estimates of $258.75 million. During the same quarter last year, the company posted $0.26 earnings per share. The business’s revenue was up 137.7% on a year-over-year basis.

Several equities research analysts recently weighed in on FANG shares. BMO Capital Markets reiterated a “buy” rating and set a $100.00 price objective on shares of Diamondback Energy in a research note on Tuesday, June 27th. Scotiabank reiterated a “buy” rating and set a $121.00 price objective on shares of Diamondback Energy in a research note on Thursday, May 4th. Roth Capital set a $130.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Stifel Nicolaus reiterated a “buy” rating on shares of Diamondback Energy in a research note on Friday, May 26th. Finally, Northland Securities set a $125.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $115.31.

In other news, Director Steven E. West purchased 2,400 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average price of $103.45 per share, for a total transaction of $248,280.00. Following the transaction, 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 is available at this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the company’s stock in a transaction that occurred 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 corporate insiders.

Several large investors have recently modified their holdings of FANG. Cambridge Investment Research Advisors Inc. increased its stake in shares of Diamondback Energy by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock valued at $224,000 after buying an additional 40 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in shares of Diamondback Energy by 2.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,650 shares of the oil and natural gas company’s stock valued at $379,000 after buying an additional 100 shares during the period. American International Group Inc. increased its stake in shares of Diamondback Energy by 5.8% in the first quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock valued at $239,000 after buying an additional 126 shares during the period. AT Bancorp increased its stake in shares of Diamondback Energy by 1.8% in the second quarter. AT Bancorp now owns 8,475 shares of the oil and natural gas company’s stock valued at $753,000 after buying an additional 151 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock valued at $100,000 after buying an additional 201 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

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Diamondback Energy (FANG) opened at 95.21 on Monday. The company’s 50 day moving average price is $89.98 and its 200-day moving average price is $98.63. Diamondback Energy has a 12-month low of $82.77 and a 12-month high of $114.00. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 2025.74 and a beta of 1.06.

Diamondback Energy Company Profile

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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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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