Diamondback Energy Inc (NASDAQ:FANG) – Equities researchers at Oppenheimer lowered their Q1 2019 earnings estimates for Diamondback Energy in a report issued on Tuesday, April 23rd. Oppenheimer analyst T. Rezvan now forecasts that the oil and natural gas company will post earnings per share of $1.43 for the quarter, down from their prior forecast of $1.55. Oppenheimer currently has a “Buy” rating and a $158.00 price target on the stock. Oppenheimer also issued estimates for Diamondback Energy’s Q4 2019 earnings at $2.70 EPS, Q1 2020 earnings at $3.34 EPS, Q2 2020 earnings at $3.45 EPS, Q3 2020 earnings at $3.55 EPS, Q4 2020 earnings at $3.67 EPS and FY2020 earnings at $14.01 EPS.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.41). The business had revenue of $633.06 million during the quarter, compared to analyst estimates of $663.21 million. Diamondback Energy had a return on equity of 7.83% and a net margin of 38.84%.
Other research analysts have also issued research reports about the stock. Morgan Stanley set a $147.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Mizuho initiated coverage on shares of Diamondback Energy in a research report on Tuesday, January 29th. They issued a “buy” rating and a $137.00 price target on the stock. BidaskClub upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. Goldman Sachs Group restated a “buy” rating on shares of Diamondback Energy in a research report on Friday, December 28th. Finally, Williams Capital restated a “buy” rating and issued a $153.00 price target on shares of Diamondback Energy in a research report on Wednesday, February 20th. Three research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $159.91.
Diamondback Energy stock opened at $111.81 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $17.89 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 0.68 and a beta of 0.80. Diamondback Energy has a 1 year low of $85.19 and a 1 year high of $140.78.
Large investors have recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Diamondback Energy by 3.4% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 126,008 shares of the oil and natural gas company’s stock valued at $12,794,000 after buying an additional 4,146 shares during the period. RMB Capital Management LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at $2,652,000. Goelzer Investment Management Inc. boosted its stake in shares of Diamondback Energy by 1.2% during the 4th quarter. Goelzer Investment Management Inc. now owns 18,866 shares of the oil and natural gas company’s stock valued at $1,749,000 after buying an additional 230 shares during the period. Nordea Investment Management AB boosted its stake in shares of Diamondback Energy by 81.3% during the 3rd quarter. Nordea Investment Management AB now owns 3,815 shares of the oil and natural gas company’s stock valued at $516,000 after buying an additional 1,711 shares during the period. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at $49,000.
In other Diamondback Energy 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 transaction of $36,543.50. Following the transaction, the vice president now directly owns 2,624 shares in the company, valued at approximately $273,971.84. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction, the chief financial officer now owns 28,965 shares in the company, valued at $2,949,216.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,050 shares of company stock worth $626,158. Corporate insiders own 0.57% of the company’s stock.
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.