Q2 2018 EPS Estimates for Diamondback Energy Reduced by Jefferies Group (FANG)

Diamondback Energy (NASDAQ:FANG) – Jefferies Group reduced their Q2 2018 EPS estimates for shares of Diamondback Energy in a research report issued to clients and investors on Wednesday, May 16th. Jefferies Group analyst M. Lear now anticipates that the oil and natural gas company will post earnings per share of $1.24 for the quarter, down from their previous estimate of $1.58. Jefferies Group currently has a “Buy” rating and a $162.00 target price on the stock. Jefferies Group also issued estimates for Diamondback Energy’s Q3 2018 earnings at $1.33 EPS, Q4 2018 earnings at $1.41 EPS, FY2018 earnings at $5.62 EPS, Q1 2019 earnings at $1.52 EPS, Q2 2019 earnings at $1.76 EPS, Q3 2019 earnings at $2.17 EPS, Q4 2019 earnings at $2.83 EPS and FY2019 earnings at $8.28 EPS.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The company had revenue of $480.20 million for the quarter, compared to the consensus estimate of $445.78 million. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The firm’s revenue was up 104.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 EPS.

Several other research analysts also recently commented on the stock. Williams Capital reaffirmed a “hold” rating and issued a $134.00 price target on shares of Diamondback Energy in a research note on Wednesday, May 9th. JPMorgan Chase raised their price target on shares of Diamondback Energy from $155.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 1st. ValuEngine raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, May 1st. Stifel Nicolaus set a $167.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, April 23rd. Finally, KeyCorp raised their price target on shares of Diamondback Energy from $137.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, April 23rd. Three analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $142.04.

Diamondback Energy opened at $136.26 on Friday, Marketbeat reports. The stock has a market capitalization of $13.03 billion, a P/E ratio of 22.28, a P/E/G ratio of 0.71 and a beta of 0.84. Diamondback Energy has a 12 month low of $128.00 and a 12 month high of $130.10. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30.

The firm also recently announced a special dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Monday, May 21st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, May 18th.

In other news, VP Randall J. Holder sold 7,120 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $124.15, for a total value of $883,948.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $130.97, for a total transaction of $327,425.00. The disclosure for this sale can be found here. Insiders sold a total of 12,620 shares of company stock worth $1,567,773 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FANG. Bank of Montreal Can boosted its holdings in shares of Diamondback Energy by 17.2% in the 4th quarter. Bank of Montreal Can now owns 89,719 shares of the oil and natural gas company’s stock valued at $11,327,000 after buying an additional 13,167 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Diamondback Energy by 7.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 323,946 shares of the oil and natural gas company’s stock valued at $40,899,000 after buying an additional 21,908 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Diamondback Energy by 346.9% in the 4th quarter. State of Alaska Department of Revenue now owns 8,670 shares of the oil and natural gas company’s stock valued at $1,094,000 after buying an additional 6,730 shares in the last quarter. S&CO Inc. bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $271,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of Diamondback Energy by 14.9% in the 4th quarter. CENTRAL TRUST Co now owns 48,312 shares of the oil and natural gas company’s stock valued at $6,099,000 after buying an additional 6,260 shares in the last quarter.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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

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