Diamondback Energy (FANG) to Release Earnings on Tuesday

Diamondback Energy (NASDAQ:FANG) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Diamondback Energy to post earnings of $4.23 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.29 EPS. On average, analysts expect Diamondback Energy to post $19 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Diamondback Energy Stock Performance

Shares of FANG opened at $207.76 on Monday. The business has a 50-day simple moving average of $193.25 and a two-hundred day simple moving average of $169.66. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy has a 52 week low of $123.41 and a 52 week high of $211.96. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 5.93%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. Barclays initiated coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 target price for the company. KeyCorp increased their price objective on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Evercore ISI lifted their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Finally, Bank Of America (Bofa) cut their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Insider Activity at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. Insiders sold 57,675 shares of company stock worth $11,311,096 over the last three months. 0.43% of the stock is owned by corporate insiders.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.