Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at US Capital Advisors dropped their Q1 2020 EPS estimates for Diamondback Energy in a research report issued on Tuesday, December 3rd. US Capital Advisors analyst C. Horwitz now forecasts that the oil and natural gas company will post earnings per share of $2.17 for the quarter, down from their previous estimate of $2.65. US Capital Advisors also issued estimates for Diamondback Energy’s Q2 2020 earnings at $2.34 EPS, Q3 2020 earnings at $2.39 EPS, Q4 2020 earnings at $2.44 EPS, FY2020 earnings at $9.35 EPS, Q1 2021 earnings at $2.59 EPS, Q2 2021 earnings at $2.48 EPS, Q3 2021 earnings at $2.51 EPS and FY2021 earnings at $10.13 EPS.
Several other research firms also recently issued reports on FANG. Susquehanna Bancshares dropped their price objective on shares of Diamondback Energy from $125.00 to $130.00 in a report on Tuesday, October 1st. Oppenheimer downgraded Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $138.00 target price on the stock. in a research report on Thursday, November 7th. TD Securities lowered their price target on Diamondback Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. BidaskClub raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Northland Securities reissued a “buy” rating and issued a $130.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy has an average rating of “Buy” and an average price target of $140.62.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.24). The company had revenue of $975.00 million during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a return on equity of 6.01% and a net margin of 29.59%. The company’s revenue was up 81.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.67 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in Diamondback Energy in the second quarter worth about $32,000. Commonwealth Bank of Australia grew its position in shares of Diamondback Energy by 81.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 152 shares during the period. FNY Investment Advisers LLC raised its position in shares of Diamondback Energy by 4,118.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 464 shares of the oil and natural gas company’s stock valued at $41,000 after acquiring an additional 453 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Diamondback Energy in the second quarter worth $44,000. Finally, Coastal Investment Advisors Inc. boosted its position in shares of Diamondback Energy by 93.5% during the second quarter. Coastal Investment Advisors Inc. now owns 503 shares of the oil and natural gas company’s stock worth $54,000 after purchasing an additional 243 shares in the last quarter. 98.87% of the stock is owned by institutional investors.
In other Diamondback Energy news, Director Michael P. Cross sold 1,000 shares of Diamondback Energy 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $100.25, for a total value of $501,250.00. Following the transaction, the vice president now owns 105,107 shares in the company, valued at approximately $10,536,976.75. The disclosure for this sale can be found here. In the last three months, insiders sold 11,000 shares of company stock worth $1,120,130. 0.47% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 12.78%.
About Diamondback Energy
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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