Diamondback Energy (NASDAQ:FANG) will be announcing its earnings results after the market closes on Tuesday, November 6th. Analysts expect the company to announce earnings of $1.56 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Wednesday, August 8th. The oil and natural gas company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.05). Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The firm had revenue of $526.30 million for the quarter, compared to analyst estimates of $479.57 million. During the same period in the previous year, the firm posted $1.25 earnings per share. The company’s revenue for the quarter was up 95.4% on a year-over-year basis. On average, analysts expect Diamondback Energy to post $6 EPS for the current fiscal year and $11 EPS for the next fiscal year.
NASDAQ FANG opened at $108.17 on Tuesday. Diamondback Energy has a 52 week low of $104.75 and a 52 week high of $140.78. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54. The firm has a market cap of $11.23 billion, a PE ratio of 20.41, a PEG ratio of 0.71 and a beta of 0.59.
A number of research analysts have recently commented on FANG shares. Piper Jaffray Companies reissued an “overweight” rating on shares of Diamondback Energy in a research report on Friday, September 28th. TD Securities began coverage on shares of Diamondback Energy in a research report on Thursday, July 5th. They set a “buy” rating and a $165.00 target price on the stock. Oppenheimer began coverage on shares of Diamondback Energy in a research note on Wednesday, October 3rd. They issued an “outperform” rating and a $166.00 price target for the company. Stifel Nicolaus set a $166.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Thursday, July 19th. Finally, Morgan Stanley lifted their price target on shares of Diamondback Energy from $163.00 to $176.00 and gave the stock an “overweight” rating in a research note on Thursday, July 12th. Four analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $156.31.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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