Equities research analysts expect Diamondback Energy, Inc. (NASDAQ:FANG) to announce earnings per share (EPS) of $1.02 for the current quarter, Zacks reports. Ten analysts have provided estimates for Diamondback Energy’s earnings, with estimates ranging from $0.60 to $1.31. Diamondback Energy reported earnings of $0.26 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 292.3%. The business is scheduled to announce its next earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that Diamondback Energy will report full year earnings of $4.71 per share for the current financial year, with EPS estimates ranging from $3.13 to $6.66. For the next financial year, analysts forecast that the business will report earnings of $5.02 per share, with EPS estimates ranging from $2.12 to $7.70. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, May 2nd. The oil and natural gas company reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.43. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%. The business had revenue of $235.23 million during the quarter, compared to analyst estimates of $218.62 million.
A number of analysts have recently issued reports on FANG shares. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a report on Thursday, March 30th. Scotiabank restated a “buy” rating and set a $121.00 price target on shares of Diamondback Energy in a report on Monday, March 27th. BMO Capital Markets set a $120.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Roth Capital set a $130.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Finally, Stifel Nicolaus restated a “buy” rating on shares of Diamondback Energy in a report on Friday, May 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $116.12.
Shares of Diamondback Energy (NASDAQ FANG) traded up 3.89% on Friday, hitting $93.93. The company’s stock had a trading volume of 1,279,270 shares. The stock has a 50-day moving average price of $88.99 and a 200 day moving average price of $99.20. Diamondback Energy has a one year low of $82.77 and a one year high of $114.00. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 1998.51 and a beta of 1.05.
In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven E. West acquired 2,400 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the purchase, the director now owns 2,400 shares of the company’s stock, valued at approximately $248,280. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its position in shares of Diamondback Energy by 262.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 558,659 shares of the oil and natural gas company’s stock worth $56,456,000 after buying an additional 404,345 shares during the period. Karp Capital Management Corp purchased a new position in shares of Diamondback Energy during the first quarter worth about $2,207,000. Investment House LLC raised its position in shares of Diamondback Energy by 228.2% in the first quarter. Investment House LLC now owns 9,845 shares of the oil and natural gas company’s stock worth $1,021,000 after buying an additional 6,845 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Diamondback Energy by 5.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 268,944 shares of the oil and natural gas company’s stock worth $27,894,000 after buying an additional 14,331 shares during the period. Finally, Stevens Capital Management LP purchased a new position in shares of Diamondback Energy during the first quarter worth about $201,000. Institutional investors own 98.29% of the company’s stock.
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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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