$1.10 Billion in Sales Expected for Diamondback Energy Inc (NASDAQ:FANG) This Quarter

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Wall Street analysts forecast that Diamondback Energy Inc (NASDAQ:FANG) will report $1.10 billion in sales for the current fiscal quarter, Zacks reports. Twelve analysts have issued estimates for Diamondback Energy’s earnings, with the highest sales estimate coming in at $1.20 billion and the lowest estimate coming in at $1.02 billion. Diamondback Energy reported sales of $538.03 million in the same quarter last year, which indicates a positive year-over-year growth rate of 104.4%. The business is expected to issue its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that Diamondback Energy will report full year sales of $4.13 billion for the current fiscal year, with estimates ranging from $3.92 billion to $4.50 billion. For the next year, analysts forecast that the business will post sales of $5.36 billion, with estimates ranging from $4.67 billion to $8.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $1.59 EPS. The company’s revenue was up 93.7% on a year-over-year basis.

FANG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Williams Capital reaffirmed a “buy” rating and set a $165.00 price target on shares of Diamondback Energy in a research report on Tuesday, July 30th. Northland Securities reaffirmed a “buy” rating and set a $150.00 price target on shares of Diamondback Energy in a research report on Wednesday, August 7th. MKM Partners initiated coverage on Diamondback Energy in a research report on Friday, June 28th. They set a “buy” rating for the company. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $156.00 price target on shares of Diamondback Energy in a research report on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $152.95.

Shares of NASDAQ FANG traded up $0.56 during midday trading on Friday, reaching $96.73. The company had a trading volume of 796,497 shares, compared to its average volume of 1,760,896. Diamondback Energy has a one year low of $85.19 and a one year high of $140.78. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $97.39 and its 200-day moving average price is $102.55. The stock has a market cap of $15.69 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83.

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.188 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.78%. Diamondback Energy’s dividend payout ratio (DPR) is 12.78%.

In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $107.28, for a total transaction of $536,400.00. Following the transaction, the vice president now owns 112,107 shares in the company, valued at approximately $12,026,838.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $107.47, for a total value of $161,205.00. Following the transaction, the chief financial officer now owns 27,465 shares in the company, valued at approximately $2,951,663.55. The disclosure for this sale can be found here. Insiders have sold a total of 16,500 shares of company stock worth $1,700,415 in the last quarter. Company insiders own 0.47% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Archford Capital Strategies LLC grew its stake in shares of Diamondback Energy by 1,100.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Berman Capital Advisors LLC grew its stake in shares of Diamondback Energy by 180.8% in the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 188 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Diamondback Energy in the 2nd quarter worth approximately $32,000. Manchester Capital Management LLC purchased a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $34,000. Finally, Commonwealth Bank of Australia grew its stake in shares of Diamondback Energy by 81.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 99.30% of the company’s stock.

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 and Estimates for Diamondback Energy (NASDAQ:FANG)

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