Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at Piper Jaffray Companies increased their FY2018 EPS estimates for Diamondback Energy in a report issued on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now anticipates that the oil and natural gas company will earn $6.80 per share for the year, up from their prior estimate of $6.73. Piper Jaffray Companies currently has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for Diamondback Energy’s Q4 2018 earnings at $1.85 EPS, Q1 2019 earnings at $1.48 EPS, Q2 2019 earnings at $1.60 EPS, Q3 2019 earnings at $1.81 EPS, Q4 2019 earnings at $1.99 EPS, FY2019 earnings at $6.88 EPS, Q1 2020 earnings at $2.30 EPS, Q2 2020 earnings at $2.49 EPS, Q3 2020 earnings at $2.67 EPS, Q4 2020 earnings at $2.84 EPS and FY2020 earnings at $10.30 EPS.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.15. The firm had revenue of $538.03 million during the quarter, compared to analysts’ expectations of $518.32 million. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. The firm’s revenue for the quarter was up 78.6% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share.
Shares of NASDAQ:FANG opened at $104.10 on Friday. The company has a market cap of $10.81 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 0.47 and a beta of 0.88. Diamondback Energy has a 1-year low of $85.19 and a 1-year high of $140.78. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.36.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Webster Bank N. A. purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $36,000. Point72 Hong Kong Ltd purchased a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $100,000. Belpointe Asset Management LLC purchased a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $113,000. First Hawaiian Bank boosted its holdings in shares of Diamondback Energy by 37.2% in the 4th quarter. First Hawaiian Bank now owns 1,228 shares of the oil and natural gas company’s stock worth $114,000 after purchasing an additional 333 shares during the period. Finally, Bray Capital Advisors purchased a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $116,000.
In related news, VP Hof Matthew Kaes Van’t sold 1,000 shares of the stock in a transaction dated Thursday, December 20th. The stock was sold at an average price of $89.91, for a total transaction of $89,910.00. Following the completion of the sale, the vice president now owns 5,757 shares in the company, valued at $517,611.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.
Diamondback Energy Company Profile
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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