Oppenheimer Analysts Cut Earnings Estimates for Diamondback Energy Inc (FANG)

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Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at Oppenheimer decreased their Q1 2019 earnings per share estimates for Diamondback Energy in a report issued on Wednesday, April 3rd. Oppenheimer analyst T. Rezvan now anticipates that the oil and natural gas company will post earnings per share of $1.55 for the quarter, down from their previous forecast of $1.65. Oppenheimer has a “Buy” rating and a $158.00 price target on the stock.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.41). Diamondback Energy had a return on equity of 7.83% and a net margin of 38.84%. The business had revenue of $633.06 million during the quarter, compared to the consensus estimate of $663.21 million.

A number of other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Thursday. Northland Securities restated a “buy” rating and issued a $150.00 target price on shares of Diamondback Energy in a report on Friday, March 29th. Morgan Stanley reduced their target price on shares of Diamondback Energy from $154.00 to $144.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Wells Fargo & Co boosted their target price on shares of Diamondback Energy from $161.00 to $177.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $148.00 price target on shares of Diamondback Energy in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy presently has an average rating of “Buy” and an average price target of $158.27.

Diamondback Energy stock opened at $99.96 on Thursday. Diamondback Energy has a twelve month low of $85.19 and a twelve month high of $140.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a market capitalization of $16.85 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 0.64 and a beta of 0.80.

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $101.82, for a total value of $173,094.00. Following the transaction, the chief financial officer now directly owns 28,965 shares in the company, valued at approximately $2,949,216.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael L. Hollis bought 5,313 shares of the company’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of $95.12 per share, for a total transaction of $505,372.56. The disclosure for this purchase can be found here. Insiders have sold a total of 6,050 shares of company stock worth $626,158 over the last quarter. 0.57% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Ranger Investment Management L.P. bought a new position in Diamondback Energy in the 4th quarter worth about $25,000. Legacy Financial Advisors Inc. bought a new position in Diamondback Energy in the 4th quarter worth about $30,000. Webster Bank N. A. bought a new position in Diamondback Energy in the 4th quarter worth about $36,000. Bronfman E.L. Rothschild L.P. grew its stake in Diamondback Energy by 136.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in Diamondback Energy by 114.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock worth $37,000 after acquiring an additional 214 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 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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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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