Equities analysts predict that Diamondback Energy, Inc. (NASDAQ:FANG) will report $295.32 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Diamondback Energy’s earnings. The highest sales estimate is $314.75 million and the lowest is $271.10 million. Diamondback Energy reported sales of $142.13 million during the same quarter last year, which would suggest a positive year over year growth rate of 107.8%. The business is expected to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Diamondback Energy will report full year sales of $295.32 million for the current year, with estimates ranging from $1.09 billion to $1.20 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.54 billion per share, with estimates ranging from $1.12 billion to $1.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, August 1st. The oil and natural gas company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.44. Diamondback Energy had a return on equity of 8.09% and a net margin of 38.24%. The company had revenue of $267.40 million for the quarter, compared to the consensus estimate of $258.75 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. Diamondback Energy’s revenue was up 137.7% on a year-over-year basis.
Several analysts have weighed in on FANG shares. Zacks Investment Research downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub cut Diamondback Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Credit Suisse Group reissued an “outperform” rating and issued a $151.00 price objective on shares of Diamondback Energy in a report on Friday, June 2nd. BMO Capital Markets reissued a “buy” rating and issued a $100.00 price objective on shares of Diamondback Energy in a report on Tuesday, June 27th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $141.00 price objective on shares of Diamondback Energy in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $117.13.
Diamondback Energy (NASDAQ:FANG) opened at 90.41 on Wednesday. The stock has a 50 day moving average price of $91.55 and a 200 day moving average price of $95.86. Diamondback Energy has a 1-year low of $82.77 and a 1-year high of $114.00. The company has a market cap of $8.87 billion, a P/E ratio of 24.86 and a beta of 1.08.
In other Diamondback Energy news, VP Hof Matthew Kaes Van’t sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $88.49, for a total transaction of $57,518.50. Following the completion of the sale, the vice president now directly owns 4,950 shares in the company, valued at approximately $438,025.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael L. Hollis sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,805 shares of company stock valued at $166,741. 0.41% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its stake in Diamondback Energy by 1.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,155 shares of the oil and natural gas company’s stock worth $224,000 after buying an additional 40 shares in the last quarter. Green Square Capital LLC increased its stake in Diamondback Energy by 1.2% during the 2nd quarter. Green Square Capital LLC now owns 3,531 shares of the oil and natural gas company’s stock worth $314,000 after buying an additional 42 shares in the last quarter. Profund Advisors LLC increased its stake in Diamondback Energy by 1.5% during the 2nd quarter. Profund Advisors LLC now owns 4,163 shares of the oil and natural gas company’s stock worth $370,000 after buying an additional 62 shares in the last quarter. American International Group Inc. increased its stake in Diamondback Energy by 5.8% during the 1st quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock worth $239,000 after buying an additional 126 shares in the last quarter. Finally, AT Bancorp increased its stake in Diamondback Energy by 1.8% during the 2nd quarter. AT Bancorp now owns 8,475 shares of the oil and natural gas company’s stock worth $753,000 after buying an additional 151 shares in the last quarter.
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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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