Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at Imperial Capital cut their FY2019 earnings per share (EPS) estimates for Diamondback Energy in a report released on Thursday, November 7th. Imperial Capital analyst J. Wangler now expects that the oil and natural gas company will post earnings of $6.38 per share for the year, down from their prior forecast of $6.76. Imperial Capital currently has a “Outperform” rating and a $88.00 target price on the stock. Imperial Capital also issued estimates for Diamondback Energy’s Q4 2019 earnings at $1.83 EPS, Q1 2020 earnings at $2.21 EPS, Q2 2020 earnings at $2.17 EPS, Q3 2020 earnings at $2.31 EPS and Q4 2020 earnings at $2.48 EPS.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.24). The firm had revenue of $975.00 million during the quarter, compared to the consensus estimate of $1.04 billion. Diamondback Energy had a return on equity of 6.09% and a net margin of 29.59%. Diamondback Energy’s revenue for the quarter was up 81.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 EPS.
Shares of NASDAQ:FANG traded up $0.65 on Friday, hitting $76.21. 130,187 shares of the company traded hands, compared to its average volume of 1,554,956. Diamondback Energy has a 52 week low of $74.55 and a 52 week high of $116.12. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $86.82 and a 200-day simple moving average of $98.46. The company has a market cap of $14.71 billion, a PE ratio of 12.99, a PEG ratio of 0.47 and a beta of 0.78.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC grew its stake in Diamondback Energy by 1,100.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Diamondback Energy during the 2nd quarter valued at about $32,000. Commonwealth Bank of Australia grew its stake in Diamondback Energy by 81.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 152 shares during the last quarter. FNY Investment Advisers LLC grew its stake in Diamondback Energy by 4,118.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock valued at $41,000 after purchasing an additional 453 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Diamondback Energy in the second quarter worth about $44,000. 99.27% of the stock is owned by hedge funds and other institutional investors.
In other Diamondback Energy news, Director Michael P. Cross sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $104.75, for a total value of $104,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Russell Pantermuehl sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $100.25, for a total value of $501,250.00. Following the completion of the transaction, the vice president now directly owns 105,107 shares of the company’s stock, valued at $10,536,976.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,000 shares of company stock worth $1,621,690. Corporate insiders own 0.47% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 15th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s payout ratio is 12.78%.
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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