Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at Capital One Financial issued their FY2019 earnings estimates for Diamondback Energy in a research note issued to investors on Thursday, August 9th. Capital One Financial analyst R. Tullis anticipates that the oil and natural gas company will post earnings of $10.17 per share for the year. Capital One Financial has a “Overweight” rating on the stock.
FANG has been the subject of several other reports. BidaskClub cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Stifel Nicolaus set a $166.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Thursday, July 19th. JPMorgan Chase & Co. boosted their target price on Diamondback Energy from $155.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 1st. TD Securities set a $175.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday. Finally, Raymond James restated a “buy” rating and set a $166.00 target price on shares of Diamondback Energy in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $150.48.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Wednesday, August 8th. The oil and natural gas company reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.05). The firm had revenue of $526.30 million for the quarter, compared to the consensus estimate of $479.57 million. Diamondback Energy had a return on equity of 10.56% and a net margin of 33.37%. The business’s revenue for the quarter was up 95.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of Diamondback Energy by 0.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,707,256 shares of the oil and natural gas company’s stock valued at $722,082,000 after purchasing an additional 34,532 shares during the period. BlackRock Inc. boosted its position in Diamondback Energy by 5.5% during the 1st quarter. BlackRock Inc. now owns 4,993,647 shares of the oil and natural gas company’s stock worth $631,797,000 after acquiring an additional 261,658 shares during the last quarter. Van ECK Associates Corp boosted its position in Diamondback Energy by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,594,112 shares of the oil and natural gas company’s stock worth $209,737,000 after acquiring an additional 29,280 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Diamondback Energy by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 733,515 shares of the oil and natural gas company’s stock worth $96,505,000 after acquiring an additional 109,099 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Diamondback Energy by 223.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 666,299 shares of the oil and natural gas company’s stock worth $84,300,000 after acquiring an additional 459,995 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.
In related news, VP Hof Matthew Kaes Van’t sold 832 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $128.46, for a total value of $106,878.72. Following the completion of the transaction, the vice president now directly owns 6,897 shares in the company, valued at approximately $885,988.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Teresa L. Dick sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $136.98, for a total value of $342,450.00. Following the completion of the transaction, the chief financial officer now owns 26,647 shares of the company’s stock, valued at $3,650,106.06. The disclosure for this sale can be found here. Insiders sold a total of 10,332 shares of company stock valued at $1,367,579 over the last quarter. 0.57% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 27th. Investors of record on Monday, August 20th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, August 17th. This represents a $0.50 annualized dividend and a dividend yield of 0.38%. Diamondback Energy’s dividend payout ratio is presently 9.43%.
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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