Diamondback Energy (NASDAQ:FANG) Releases Earnings Results, Misses Estimates By $0.04 EPS

Diamondback Energy (NASDAQ:FANG) issued its quarterly earnings data on Tuesday. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04), Bloomberg Earnings reports. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm earned $1.59 EPS. The firm’s quarterly revenue was up 93.7% on a year-over-year basis.

Shares of FANG stock traded down $0.39 during trading hours on Tuesday, hitting $91.06. The company’s stock had a trading volume of 2,375,828 shares, compared to its average volume of 1,762,913. The stock has a 50 day simple moving average of $104.82. The stock has a market cap of $15.04 billion, a PE ratio of 15.51, a PEG ratio of 0.64 and a beta of 0.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.59 and a current ratio of 0.62. Diamondback Energy has a 12-month low of $85.19 and a 12-month high of $140.78.

In other news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total value of $161,205.00. Following the sale, the chief financial officer now directly owns 27,465 shares of the company’s stock, valued at approximately $2,951,663.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $107.28, for a total transaction of $536,400.00. Following the completion of the sale, the vice president now directly owns 112,107 shares in the company, valued at $12,026,838.96. The disclosure for this sale can be found here. Insiders sold a total of 11,500 shares of company stock worth $1,258,505 over the last ninety days. Insiders own 0.47% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Diamondback Energy by 11.4% in the 1st quarter. JPMorgan Chase & Co. now owns 13,528,463 shares of the oil and natural gas company’s stock valued at $1,373,546,000 after purchasing an additional 1,388,245 shares during the period. Geode Capital Management LLC lifted its stake in shares of Diamondback Energy by 128.1% in the 4th 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 purchasing an additional 1,145,573 shares during the period. Boston Partners lifted its stake in shares of Diamondback Energy by 16.5% in the 1st quarter. Boston Partners now owns 3,990,944 shares of the oil and natural gas company’s stock valued at $405,201,000 after purchasing an additional 566,290 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Diamondback Energy by 60.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,374,465 shares of the oil and natural gas company’s stock valued at $127,413,000 after purchasing an additional 517,292 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. lifted its stake in shares of Diamondback Energy by 135.3% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 628,119 shares of the oil and natural gas company’s stock valued at $63,773,000 after purchasing an additional 361,212 shares during the period. 99.32% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on FANG shares. ValuEngine downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. Roth Capital cut their price objective on shares of Diamondback Energy from $166.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Morgan Stanley cut their price objective on shares of Diamondback Energy from $151.00 to $143.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Williams Capital reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Diamondback Energy in a research report on Tuesday, July 30th. Finally, BidaskClub downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $158.71.

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 for Diamondback Energy (NASDAQ:FANG)

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