Diamondback Energy Inc (NASDAQ:FANG) – Analysts at Oppenheimer lifted their Q4 2019 earnings per share estimates for Diamondback Energy in a report released on Thursday, May 9th. Oppenheimer analyst T. Rezvan now anticipates that the oil and natural gas company will post earnings per share of $2.74 for the quarter, up from their prior estimate of $2.70. Oppenheimer also issued estimates for Diamondback Energy’s Q2 2020 earnings at $3.47 EPS, Q3 2020 earnings at $3.61 EPS, Q4 2020 earnings at $3.76 EPS and FY2020 earnings at $14.14 EPS.
Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $148.00 price objective on shares of Diamondback Energy in a research report on Monday, March 11th. ValuEngine upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Williams Capital reiterated a “buy” rating and issued a $165.00 price objective on shares of Diamondback Energy in a research report on Wednesday, May 8th. KeyCorp lifted their price objective on shares of Diamondback Energy from $116.00 to $124.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Roth Capital set a $166.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $160.43.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm had revenue of $864.00 million for the quarter, compared to the consensus estimate of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. Diamondback Energy’s quarterly revenue was up 80.4% compared to the same quarter last year. During the same period last year, the firm posted $1.64 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Diamondback Energy by 3.4% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 126,008 shares of the oil and natural gas company’s stock worth $12,794,000 after purchasing an additional 4,146 shares during the last quarter. RMB Capital Management LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $2,652,000. Goelzer Investment Management Inc. increased its position in shares of Diamondback Energy by 1.2% in the fourth quarter. Goelzer Investment Management Inc. now owns 18,866 shares of the oil and natural gas company’s stock worth $1,749,000 after acquiring an additional 230 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $49,000. Finally, Boston Advisors LLC increased its position in shares of Diamondback Energy by 31.5% in the fourth quarter. Boston Advisors LLC now owns 3,615 shares of the oil and natural gas company’s stock worth $335,000 after acquiring an additional 865 shares in the last quarter. 99.74% of the stock is currently owned by institutional investors.
In other news, VP Jennifer Soliman sold 350 shares of Diamondback Energy stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $104.41, for a total value of $36,543.50. Following the transaction, the vice president now owns 2,624 shares of the company’s stock, valued at approximately $273,971.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $101.82, for a total transaction of $173,094.00. Following the completion of the transaction, the chief financial officer now directly owns 28,965 shares in the company, valued at approximately $2,949,216.30. The disclosure for this sale can be found here. Insiders sold a total of 6,050 shares of company stock worth $626,158 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 28th will be paid a $0.188 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.75 annualized dividend and a dividend yield of 0.70%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.13. Diamondback Energy’s payout ratio is currently 8.52%.
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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