Brokerages Anticipate Diamondback Energy Inc (FANG) Will Announce Quarterly Sales of $360.37 Million

Analysts expect Diamondback Energy Inc (NASDAQ:FANG) to post $360.37 million in sales for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Diamondback Energy’s earnings, with the highest sales estimate coming in at $392.79 million and the lowest estimate coming in at $314.58 million. Diamondback Energy reported sales of $185.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 94.8%. The business is expected to announce its next earnings results on Tuesday, February 13th.

On average, analysts expect that Diamondback Energy will report full year sales of $360.37 million for the current fiscal year, with estimates ranging from $1.13 billion to $1.21 billion. For the next year, analysts anticipate that the company will report sales of $1.73 billion per share, with estimates ranging from $1.52 billion to $1.94 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 6th. The oil and natural gas company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.31. The company had revenue of $301.30 million during the quarter, compared to analyst estimates of $296.53 million. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share.

FANG has been the topic of several research reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $118.00 price target on shares of Diamondback Energy in a research note on Friday, November 24th. SunTrust Banks reissued a “buy” rating and issued a $130.00 target price on shares of Diamondback Energy in a research note on Friday, November 10th. Stifel Nicolaus set a $129.00 target price on Diamondback Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. BidaskClub raised Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Goldman Sachs Group lowered Diamondback Energy from a “conviction-buy” rating to a “buy” rating and increased their target price for the company from $106.53 to $118.00 in a research note on Friday, November 17th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $127.96.

Diamondback Energy (FANG) traded down $0.21 on Friday, hitting $127.23. The stock had a trading volume of 1,039,900 shares, compared to its average volume of 1,267,500. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $132.07. The company has a market capitalization of $12,480.00, a PE ratio of 30.81, a PEG ratio of 0.74 and a beta of 1.08. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22.

In related news, CEO Travis D. Stice sold 35,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $125.00, for a total transaction of $4,375,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Teresa L. Dick sold 5,000 shares of Diamondback Energy stock in a transaction on Friday, November 10th. The shares were sold at an average price of $111.79, for a total value of $558,950.00. Following the completion of the transaction, the chief financial officer now directly owns 31,760 shares of the company’s stock, valued at $3,550,450.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,400 shares of company stock valued at $9,544,350. 0.41% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FANG. Cubist Systematic Strategies LLC raised its holdings in Diamondback Energy by 46.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after acquiring an additional 700 shares in the last quarter. KCS Wealth Advisory bought a new position in shares of Diamondback Energy in the 4th quarter valued at $202,000. Crossmark Global Holdings Inc. bought a new position in shares of Diamondback Energy in the 3rd quarter valued at $206,000. Commerce Bank bought a new position in shares of Diamondback Energy in the 3rd quarter valued at $208,000. Finally, Sentry Investment Management LLC bought a new position in shares of Diamondback Energy in the 2nd quarter valued at $215,000.

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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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