Diamondback Energy (FANG) Posts Earnings Results, Misses Expectations By $0.41 EPS

Diamondback Energy (NASDAQ:FANG) announced its quarterly earnings results on Tuesday. The oil and natural gas company reported $1.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.41), Bloomberg Earnings reports. The firm had revenue of $633.06 million for the quarter, compared to analyst estimates of $663.21 million. Diamondback Energy had a return on equity of 10.75% and a net margin of 33.63%.

Shares of FANG stock traded up $0.71 on Wednesday, reaching $105.51. The company had a trading volume of 33,233 shares, compared to its average volume of 1,723,238. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.08. The stock has a market cap of $10.68 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 0.51 and a beta of 0.93. Diamondback Energy has a 12 month low of $85.19 and a 12 month high of $140.78.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, February 20th. This represents a $0.50 annualized dividend and a yield of 0.47%. Diamondback Energy’s dividend payout ratio is currently 9.43%.

Several brokerages have commented on FANG. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Thursday, October 25th. BidaskClub raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 15th. Williams Capital reiterated a “buy” rating and set a $153.00 price target on shares of Diamondback Energy in a research note on Wednesday. Citigroup restated a “buy” rating and issued a $155.00 price objective on shares of Diamondback Energy in a research note on Tuesday, December 11th. Finally, Imperial Capital reissued an “outperform” rating and set a $140.00 price objective (down previously from $170.00) on shares of Diamondback Energy in a report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Diamondback Energy has a consensus rating of “Buy” and a consensus price target of $158.43.

In related news, VP Hof Matthew Kaes Van’t sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 20th. The stock was sold at an average price of $89.91, for a total value of $89,910.00. Following the completion of the transaction, the vice president now directly owns 5,757 shares in the company, valued at approximately $517,611.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.57% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Diamondback Energy by 103.8% in the 4th quarter. BlackRock Inc. now owns 10,172,829 shares of the oil and natural gas company’s stock valued at $943,023,000 after acquiring an additional 5,181,063 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Diamondback Energy by 28,126.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 2,971,317 shares in the last quarter. Boston Partners boosted its stake in Diamondback Energy by 135.9% in the fourth quarter. Boston Partners now owns 3,424,654 shares of the oil and natural gas company’s stock valued at $317,465,000 after buying an additional 1,973,018 shares in the last quarter. Capital International Investors acquired a new stake in Diamondback Energy in the third quarter valued at about $155,469,000. Finally, Geode Capital Management LLC boosted its stake in Diamondback Energy by 128.1% in the fourth quarter. Geode Capital Management LLC now owns 2,040,175 shares of the oil and natural gas company’s stock valued at $188,797,000 after buying an additional 1,145,573 shares in the last quarter.

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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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Earnings History for Diamondback Energy (NASDAQ:FANG)

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