Equities Analysts Offer Predictions for Diamondback Energy Inc’s FY2021 Earnings (NASDAQ:FANG)

Diamondback Energy Inc (NASDAQ:FANG) – Equities researchers at US Capital Advisors reduced their FY2021 earnings per share estimates for shares of Diamondback Energy in a research note issued on Wednesday, October 16th. US Capital Advisors analyst C. Horwitz now expects that the oil and natural gas company will earn $13.00 per share for the year, down from their prior forecast of $13.93.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.04). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. Diamondback Energy’s revenue for the quarter was up 93.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 earnings per share.

A number of other equities research analysts have also weighed in on the stock. KeyCorp lowered their price target on shares of Diamondback Energy from $133.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. SunTrust Banks decreased their price objective on shares of Diamondback Energy from $145.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Citigroup decreased their price objective on shares of Diamondback Energy from $135.00 to $118.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Piper Jaffray Companies set a $156.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, MKM Partners began coverage on shares of Diamondback Energy in a report on Friday, June 28th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Diamondback Energy has an average rating of “Buy” and a consensus price target of $146.61.

FANG opened at $85.69 on Monday. The company has a fifty day simple moving average of $90.69 and a 200 day simple moving average of $99.95. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.42 and a beta of 0.77. Diamondback Energy has a twelve month low of $80.75 and a twelve month high of $122.12. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29.

In other Diamondback Energy news, CEO Travis D. Stice purchased 4,186 shares of Diamondback Energy stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $95.55 per share, for a total transaction of $399,972.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael P. Cross sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $104.75, for a total transaction of $104,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,000 shares of company stock worth $1,621,690. Insiders own 0.47% of the company’s stock.

Several institutional investors have recently bought and sold shares of FANG. Nuveen Asset Management LLC bought a new position in shares of Diamondback Energy in the 2nd quarter worth about $303,291,000. BlackRock Inc. lifted its position in shares of Diamondback Energy by 4.7% in the 2nd quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock worth $1,167,931,000 after buying an additional 485,647 shares during the last quarter. Balyasny Asset Management LLC lifted its position in shares of Diamondback Energy by 14,382.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 468,943 shares of the oil and natural gas company’s stock worth $51,101,000 after buying an additional 465,705 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Diamondback Energy by 47.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,406,516 shares of the oil and natural gas company’s stock worth $153,268,000 after buying an additional 453,267 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Diamondback Energy by 43.2% in the 2nd quarter. Bessemer Group Inc. now owns 941,887 shares of the oil and natural gas company’s stock worth $102,638,000 after buying an additional 284,343 shares during the last quarter. Institutional investors own 99.03% 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 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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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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