Diamondback Energy Inc (NASDAQ:FANG) – Research analysts at Capital One Financial lowered their Q1 2019 earnings estimates for Diamondback Energy in a research report issued to clients and investors on Tuesday, March 12th. Capital One Financial analyst R. Tullis now anticipates that the oil and natural gas company will post earnings per share of $1.40 for the quarter, down from their prior forecast of $1.49. Capital One Financial also issued estimates for Diamondback Energy’s Q2 2019 earnings at $1.37 EPS, Q3 2019 earnings at $1.49 EPS, Q4 2019 earnings at $1.62 EPS and FY2019 earnings at $5.89 EPS.
Several other equities research analysts also recently weighed in on FANG. Morgan Stanley decreased their price target on shares of Diamondback Energy from $171.00 to $153.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. Cowen initiated coverage on shares of Diamondback Energy in a research note on Thursday, November 29th. They issued an “outperform” rating for the company. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research note on Monday, December 3rd. They issued a “buy” rating and a $177.00 price target for the company. Stephens initiated coverage on shares of Diamondback Energy in a research note on Thursday, December 6th. They issued an “overweight” rating and a $177.00 price target for the company. Finally, Citigroup reaffirmed a “buy” rating and issued a $155.00 price target on shares of Diamondback Energy in a research note on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $159.86.
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 for the quarter, missing the consensus estimate of $1.62 by ($0.41). Diamondback Energy had a net margin of 38.84% and a return on equity of 7.83%. The company had revenue of $633.06 million during the quarter, compared to the consensus estimate of $663.21 million.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 21st were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, February 20th. Diamondback Energy’s payout ratio is presently 8.52%.
In other Diamondback Energy news, insider Michael L. Hollis bought 5,313 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $95.12 per share, with a total value of $505,372.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $101.82, for a total transaction of $173,094.00. Following the sale, the chief financial officer now directly owns 28,965 shares of the company’s stock, valued at $2,949,216.30. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Diamondback Energy during the fourth quarter worth about $141,883,000. Kentucky Retirement Systems purchased a new position in Diamondback Energy during the fourth quarter worth about $622,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Diamondback Energy during the fourth quarter worth about $283,000. Aurora Investment Counsel boosted its holdings in Diamondback Energy by 4.7% during the fourth quarter. Aurora Investment Counsel now owns 16,854 shares of the oil and natural gas company’s stock worth $1,562,000 after purchasing an additional 760 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Diamondback Energy by 54.0% during the fourth quarter. Nordea Investment Management AB now owns 5,876 shares of the oil and natural gas company’s stock worth $545,000 after purchasing an additional 2,061 shares during the last quarter.
Diamondback Energy Company Profile
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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