Diamondback Energy (NASDAQ:FANG) – Investment analysts at Jefferies Group lowered their Q2 2018 earnings estimates for Diamondback Energy in a research note issued 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 prior estimate of $1.58. Jefferies Group has a “Buy” rating and a $162.00 price target 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 announced its quarterly earnings data on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.05. The company had revenue of $480.20 million during the quarter, compared to the consensus estimate of $445.78 million. Diamondback Energy had a return on equity of 10.53% and a net margin of 35.09%. The firm’s revenue was up 104.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 EPS.
Shares of Diamondback Energy opened at $136.26 on Friday, Marketbeat Ratings reports. The company has a market cap 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. The company has a quick ratio of 0.52, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. Diamondback Energy has a 12-month low of $128.00 and a 12-month high of $130.10.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Next Century Growth Investors LLC bought a new position in shares of Diamondback Energy during the 1st quarter valued at approximately $121,000. ClariVest Asset Management LLC raised its holdings in Diamondback Energy by 14,557.1% during the 1st quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after buying an additional 1,019 shares during the period. Signaturefd LLC purchased a new stake in Diamondback Energy during the 1st quarter valued at $132,000. Zions Bancorporation purchased a new stake in Diamondback Energy during the 1st quarter valued at $136,000. Finally, Captrust Financial Advisors purchased a new stake in Diamondback Energy during the 4th quarter valued at $149,000.
In other news, CFO Teresa L. Dick sold 2,500 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $130.97, for a total transaction of $327,425.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. Hollis sold 3,000 shares of the stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $118.80, for a total value of $356,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,620 shares of company stock valued at $1,567,773 over the last quarter. Corporate insiders own 0.41% of the company’s stock.
The company also recently announced a special dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Monday, May 21st will be given a dividend of $0.125 per share. The ex-dividend date is Friday, May 18th.
About Diamondback Energy
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.
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