Diamondback Energy, Inc. (FANG) Set to Announce Earnings on Monday
Diamondback Energy, Inc. (NASDAQ:FANG) will be releasing its earnings data after the market closes on Monday, November 6th. Analysts expect Diamondback Energy to post earnings of $1.02 per share for the quarter.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.44. The company had revenue of $267.40 million for the quarter, compared to analysts’ expectations of $258.75 million. Diamondback Energy had a net margin of 38.24% and a return on equity of 8.09%. Diamondback Energy’s revenue was up 137.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. On average, analysts expect Diamondback Energy to post $5 EPS for the current fiscal year and $5.9 EPS for the next fiscal year.
Diamondback Energy, Inc. (FANG) opened at 104.57 on Monday. The firm has a market capitalization of $10.26 billion, a PE ratio of 28.75 and a beta of 1.08. Diamondback Energy, Inc. has a 52 week low of $82.77 and a 52 week high of $114.00. The firm has a 50-day moving average of $98.28 and a 200 day moving average of $95.04.
FANG has been the topic of several research analyst reports. Zacks Investment Research cut Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub upgraded Diamondback Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Barclays PLC raised their price objective on Diamondback Energy from $105.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 11th. Jefferies Group LLC initiated coverage on Diamondback Energy in a research note on Monday, October 9th. They set a “buy” rating and a $124.00 price objective on the stock. Finally, Northland Securities restated a “buy” rating and set a $125.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $122.13.
In related news, insider Michael L. Hollis sold 2,000 shares of Diamondback Energy stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $102.44, for a total transaction of $204,880.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael L. Hollis sold 1,000 shares of Diamondback Energy stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $100.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,805 shares of company stock worth $1,239,381. 0.41% of the stock is owned by corporate insiders.
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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