Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at Seaport Global Securities raised their Q2 2019 earnings per share estimates for Diamondback Energy in a research note issued on Thursday, June 13th. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings per share of $1.87 for the quarter, up from their previous estimate of $1.78. Seaport Global Securities also issued estimates for Diamondback Energy’s Q4 2019 earnings at $2.50 EPS, FY2019 earnings at $7.88 EPS, Q1 2020 earnings at $2.99 EPS, Q2 2020 earnings at $3.04 EPS, Q3 2020 earnings at $3.17 EPS, Q4 2020 earnings at $3.24 EPS and FY2020 earnings at $12.44 EPS.
A number of other brokerages have also commented on FANG. Morgan Stanley upped their price target on shares of Diamondback Energy from $153.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. KeyCorp upped their price target on shares of Diamondback Energy from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Williams Capital reiterated a “buy” rating and issued a $165.00 price target on shares of Diamondback Energy in a research note on Wednesday, May 8th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $148.00 price target on shares of Diamondback Energy in a research note on Monday, March 11th. Finally, BidaskClub upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $160.74.
Shares of FANG stock opened at $100.17 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $16.17 billion, a PE ratio of 17.06, a PEG ratio of 0.59 and a beta of 0.83. Diamondback Energy has a 52-week low of $85.19 and a 52-week high of $140.78.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.03. The company had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. Diamondback Energy’s quarterly revenue was up 80.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, May 24th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. Diamondback Energy’s dividend payout ratio is presently 12.78%.
In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the transaction, the vice president now owns 117,107 shares in the company, valued at approximately $13,137,063.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Randall J. Holder sold 4,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $104.13, for a total transaction of $416,520.00. Following the transaction, the insider now owns 14,448 shares in the company, valued at approximately $1,504,470.24. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
Several institutional investors have recently modified their holdings of FANG. Vanguard Group Inc lifted its holdings in shares of Diamondback Energy by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock worth $1,160,994,000 after acquiring an additional 23,673 shares during the period. Dupont Capital Management Corp bought a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $341,000. Creative Planning bought a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $284,000. TD Asset Management Inc. lifted its holdings in shares of Diamondback Energy by 137.9% during the 4th quarter. TD Asset Management Inc. now owns 77,266 shares of the oil and natural gas company’s stock worth $7,163,000 after acquiring an additional 44,783 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of Diamondback Energy by 8.5% during the 4th quarter. M&T Bank Corp now owns 10,494 shares of the oil and natural gas company’s stock worth $972,000 after acquiring an additional 818 shares during the period. 98.97% of the stock is owned by institutional investors.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.
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