Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at Imperial Capital upped their FY2019 earnings estimates for shares of Diamondback Energy in a research report issued to clients and investors on Tuesday, January 14th. Imperial Capital analyst J. Wangler now anticipates that the oil and natural gas company will earn $6.37 per share for the year, up from their previous estimate of $6.33. Imperial Capital currently has a “Outperform” rating and a $110.00 price target on the stock. Imperial Capital also issued estimates for Diamondback Energy’s Q4 2019 earnings at $1.82 EPS, Q2 2020 earnings at $2.20 EPS, Q3 2020 earnings at $2.35 EPS, Q4 2020 earnings at $2.52 EPS and FY2020 earnings at $9.31 EPS.
Other equities analysts have also recently issued research reports about the company. SunTrust Banks reduced their price target on Diamondback Energy from $145.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Susquehanna Bancshares reduced their price target on Diamondback Energy from $125.00 to $130.00 in a report on Tuesday, October 1st. TheStreet cut Diamondback Energy from a “b-” rating to a “c+” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $152.00 to $139.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. They noted that the move was a valuation call. Finally, Johnson Rice cut Diamondback Energy from a “buy” rating to an “accumulate” rating in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy has an average rating of “Buy” and an average price target of $133.71.
NASDAQ FANG opened at $91.31 on Thursday. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.81 and a beta of 0.85. Diamondback Energy has a twelve month low of $73.18 and a twelve month high of $114.14. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $87.51 and a 200 day moving average of $91.68.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.24). The business had revenue of $975.00 million during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a return on equity of 6.01% and a net margin of 29.59%. The business’s revenue for the quarter was up 81.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 EPS.
Several institutional investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. increased its holdings in shares of Diamondback Energy by 7.7% in the third quarter. Daiwa Securities Group Inc. now owns 7,876 shares of the oil and natural gas company’s stock valued at $708,000 after purchasing an additional 566 shares during the last quarter. US Bancorp DE increased its holdings in shares of Diamondback Energy by 4.8% in the second quarter. US Bancorp DE now owns 17,339 shares of the oil and natural gas company’s stock valued at $1,890,000 after purchasing an additional 794 shares during the last quarter. Nomura Holdings Inc. increased its holdings in shares of Diamondback Energy by 34.3% in the second quarter. Nomura Holdings Inc. now owns 83,636 shares of the oil and natural gas company’s stock valued at $9,144,000 after purchasing an additional 21,342 shares during the last quarter. SWS Partners acquired a new stake in shares of Diamondback Energy in the third quarter valued at approximately $266,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in shares of Diamondback Energy by 96.9% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 10,960 shares of the oil and natural gas company’s stock valued at $982,000 after purchasing an additional 5,394 shares during the last quarter. 98.48% of the stock is owned by institutional investors and hedge funds.
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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