Diamondback Energy (FANG) Posts Earnings Results, Beats Expectations By $0.16 EPS

Diamondback Energy (NASDAQ:FANG) announced its earnings results on Tuesday. The oil and natural gas company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16, Bloomberg Earnings reports. Diamondback Energy had a net margin of 39.69% and a return on equity of 8.76%.

Diamondback Energy (NASDAQ:FANG) opened at $115.03 on Wednesday. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.22. Diamondback Energy has a 1 year low of $82.77 and a 1 year high of $134.52. The firm has a market cap of $11,388.39, a PE ratio of 27.85, a price-to-earnings-growth ratio of 0.60 and a beta of 0.91.

In other Diamondback Energy news, CEO Travis D. Stice sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $4,375,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Russell Pantermuehl sold 1,400 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $111.10, for a total transaction of $155,540.00. Following the transaction, the vice president now owns 60,814 shares in the company, valued at $6,756,435.40. The disclosure for this sale can be found here. Insiders have sold 68,400 shares of company stock worth $8,337,200 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

FANG has been the subject of a number of research reports. Barclays reaffirmed a “buy” rating and issued a $138.00 target price on shares of Diamondback Energy in a report on Sunday, December 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $138.00 target price on shares of Diamondback Energy in a report on Tuesday, January 9th. KeyCorp reaffirmed an “overweight” rating and issued a $125.00 target price (up from $117.00) on shares of Diamondback Energy in a report on Tuesday, November 7th. BidaskClub upgraded shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Credit Suisse Group initiated coverage on shares of Diamondback Energy in a research note on Monday, December 11th. They set an “outperform” rating and a $123.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $135.96.

COPYRIGHT VIOLATION NOTICE: This report was published by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://www.americanbankingnews.com/2018/02/14/diamondback-energy-fang-posts-earnings-results-beats-expectations-by-0-16-eps.html.

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.

Earnings History for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply