Zacks: Brokerages Anticipate Diamondback Energy Inc (FANG) Will Post Quarterly Sales of $360.37 Million

Analysts expect that Diamondback Energy Inc (NASDAQ:FANG) will report $360.37 million in sales for the current quarter, according to Zacks Investment Research. Eleven analysts have issued 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 posted 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 firm is expected to announce its next earnings report on Tuesday, February 13th.

According to Zacks, 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 fiscal year, analysts expect that the business will post sales of $1.73 billion per share, with estimates ranging from $1.52 billion to $1.94 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.31. Diamondback Energy had a return on equity of 8.76% and a net margin of 39.69%. The company had revenue of $301.30 million for the quarter, compared to analyst estimates of $296.53 million. During the same quarter last year, the company posted ($0.03) EPS. The company’s revenue for the quarter was up 112.0% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $146.00 price target on the stock in a research note on Wednesday. Piper Jaffray Companies restated a “buy” rating and set a $138.00 price objective on shares of Diamondback Energy in a research report on Tuesday, January 9th. BMO Capital Markets set a $110.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Wells Fargo & Co set a $120.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Finally, Mizuho set a $122.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday, November 25th. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $127.96.

In other Diamondback Energy news, CFO Teresa L. Dick sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $112.13, for a total transaction of $112,130.00. Following the completion of the sale, the chief financial officer now directly owns 30,760 shares of the company’s stock, valued at approximately $3,449,118.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael L. Hollis sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $129.34, for a total value of $388,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,400 shares of company stock valued at $9,544,350 over the last three months. Corporate insiders own 0.41% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. KCS Wealth Advisory bought a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $202,000. Crossmark Global Holdings Inc. bought a new position in shares of Diamondback Energy in the third quarter valued at approximately $206,000. Commerce Bank bought a new position in shares of Diamondback Energy in the third quarter valued at approximately $208,000. Cubist Systematic Strategies LLC grew its holdings in Diamondback Energy by 46.7% during the second quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after purchasing an additional 700 shares during the period. Finally, Raymond James Trust N.A. bought a new position in Diamondback Energy during the third quarter valued at $237,000.

Shares of 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 one year low of $82.77 and a one year high of $132.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46. The company has a market cap of $12,480.00, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 0.74 and a beta of 1.08.

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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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