Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at Capital One Financial cut their Q1 2019 EPS estimates for Diamondback Energy in a research note issued to investors on Tuesday, March 12th. Capital One Financial analyst R. Tullis now forecasts that the oil and natural gas company will post earnings of $1.40 per share for the quarter, down from their prior forecast of $1.49. Capital One Financial also issued estimates for Diamondback Energy’s Q2 2019 earnings at $1.37 EPS, Q3 2019 earnings at $1.49 EPS, Q4 2019 earnings at $1.62 EPS and FY2019 earnings at $5.89 EPS.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.41). The company had revenue of $633.06 million during the quarter, compared to analysts’ expectations of $663.21 million. Diamondback Energy had a net margin of 38.84% and a return on equity of 7.83%.
FANG has been the topic of a number of other reports. Morgan Stanley set a $147.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, January 29th. Wells Fargo & Co cut their target price on shares of Diamondback Energy from $157.00 to $151.00 and set a “positive” rating on the stock in a research note on Thursday, December 20th. Williams Capital reaffirmed a “buy” rating and set a $153.00 target price on shares of Diamondback Energy in a research note on Wednesday, December 12th. Zacks Investment Research raised shares of Diamondback Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Barclays initiated coverage on shares of Diamondback Energy in a research note on Wednesday, January 16th. They set an “overweight” rating and a $189.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $159.86.
Diamondback Energy stock opened at $102.39 on Thursday. The company has a market capitalization of $16.52 billion, a PE ratio of 17.44, a P/E/G ratio of 0.64 and a beta of 0.80. Diamondback Energy has a 1 year low of $85.19 and a 1 year high of $140.78. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, February 20th. Diamondback Energy’s dividend payout ratio (DPR) is presently 8.52%.
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $101.82, for a total transaction of $173,094.00. Following the completion of the transaction, the chief financial officer now owns 28,965 shares in the company, valued at approximately $2,949,216.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael L. Hollis purchased 5,313 shares of the stock in a transaction on Friday, March 8th. The shares were purchased at an average price of $95.12 per share, with a total value of $505,372.56. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Goelzer Investment Management Inc. boosted its holdings in shares of Diamondback Energy by 1.2% in the 4th quarter. Goelzer Investment Management Inc. now owns 18,866 shares of the oil and natural gas company’s stock valued at $1,749,000 after buying an additional 230 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Diamondback Energy by 81.3% in the 3rd quarter. Nordea Investment Management AB now owns 3,815 shares of the oil and natural gas company’s stock valued at $516,000 after buying an additional 1,711 shares in the last quarter. Zeke Capital Advisors LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $1,636,000. Dubuque Bank & Trust Co. acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $49,000. Finally, Moody National Bank Trust Division boosted its holdings in shares of Diamondback Energy by 0.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,628 shares of the oil and natural gas company’s stock valued at $2,097,000 after buying an additional 125 shares in the last quarter.
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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