Wall Street analysts expect Diamondback Energy Inc (NASDAQ:FANG) to post $0.49 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Diamondback Energy’s earnings, with the highest EPS estimate coming in at $1.10 and the lowest estimate coming in at $0.10. Diamondback Energy reported earnings of $1.47 per share during the same quarter last year, which would suggest a negative year over year growth rate of 66.7%. The business is scheduled to issue its next earnings results after the market closes on Monday, November 2nd.
On average, analysts expect that Diamondback Energy will report full year earnings of $2.78 per share for the current financial year, with EPS estimates ranging from $2.12 to $4.02. For the next financial year, analysts forecast that the firm will report earnings of $3.12 per share, with EPS estimates ranging from $1.96 to $4.54. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.12. Diamondback Energy had a negative net margin of 81.81% and a positive return on equity of 5.66%. The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $586.01 million. During the same quarter in the previous year, the firm posted $1.70 earnings per share. The firm’s revenue for the quarter was down 58.4% on a year-over-year basis.
A number of analysts have recently issued reports on the stock. BMO Capital Markets cut shares of Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $45.00 target price for the company. in a research note on Monday, June 29th. TheStreet downgraded shares of Diamondback Energy from a “c” rating to a “d” rating in a research note on Monday, August 3rd. SunTrust Banks raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $52.00 in a report on Thursday, June 25th. BidaskClub cut Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Friday, September 25th. Finally, Credit Suisse Group began coverage on Diamondback Energy in a research note on Tuesday, August 4th. They issued a “buy” rating and a $57.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $63.78.
Large investors have recently made changes to their positions in the stock. Two Sigma Advisers LP acquired a new position in Diamondback Energy during the 2nd quarter worth about $222,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Diamondback Energy in the second quarter valued at about $503,000. Quadrature Capital Ltd raised its position in shares of Diamondback Energy by 84.1% during the second quarter. Quadrature Capital Ltd now owns 37,367 shares of the oil and natural gas company’s stock worth $1,563,000 after acquiring an additional 17,071 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Diamondback Energy by 25.0% in the second quarter. Nuveen Asset Management LLC now owns 802,249 shares of the oil and natural gas company’s stock worth $33,550,000 after acquiring an additional 160,465 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Diamondback Energy by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 793,614 shares of the oil and natural gas company’s stock valued at $33,189,000 after acquiring an additional 10,649 shares during the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.
NASDAQ FANG traded up $1.38 during trading on Monday, reaching $30.47. 3,746,778 shares of the company’s stock were exchanged, compared to its average volume of 3,412,480. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.62 and a quick ratio of 0.58. The business has a 50 day moving average price of $35.87 and a 200-day moving average price of $37.92. The stock has a market capitalization of $4.81 billion, a P/E ratio of -1.72, a PEG ratio of 0.53 and a beta of 2.19. Diamondback Energy has a fifty-two week low of $14.55 and a fifty-two week high of $96.92.
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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