Diamondback Energy Inc (NASDAQ:FANG) – Equities research analysts at Capital One Financial lowered their FY2019 earnings per share (EPS) estimates for shares of Diamondback Energy in a research note issued to investors on Wednesday, November 7th. Capital One Financial analyst R. Tullis now anticipates that the oil and natural gas company will post earnings of $9.23 per share for the year, down from their previous forecast of $9.83. Capital One Financial has a “Overweight” rating on the stock.
Other analysts have also issued reports about the company. Raymond James reissued a “buy” rating and issued a $166.00 price target on shares of Diamondback Energy in a research note on Monday, August 13th. BMO Capital Markets reissued a “hold” rating and issued a $135.00 price target on shares of Diamondback Energy in a research note on Friday, August 17th. TD Securities set a $175.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Saturday, August 11th. Imperial Capital raised their price target on Diamondback Energy from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Finally, Stifel Nicolaus set a $166.00 price target on Diamondback Energy and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and an average price target of $156.45.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.15. Diamondback Energy had a return on equity of 11.06% and a net margin of 33.63%. The firm had revenue of $538.03 million for the quarter, compared to analyst estimates of $518.32 million. During the same period last year, the company earned $1.33 EPS. The firm’s quarterly revenue was up 78.6% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 19th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.44%. Diamondback Energy’s dividend payout ratio (DPR) is 9.43%.
In other news, VP Russell Pantermuehl sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the transaction, the vice president now directly owns 89,532 shares in the company, valued at approximately $11,442,189.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Diamondback Energy by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock valued at $1,011,079,000 after buying an additional 984,124 shares during the period. Van ECK Associates Corp raised its holdings in shares of 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 valued at $209,737,000 after buying an additional 29,280 shares during the period. Bank of America Corp DE raised its holdings in shares of Diamondback Energy by 40.4% during the 2nd quarter. Bank of America Corp DE now owns 926,005 shares of the oil and natural gas company’s stock valued at $121,835,000 after buying an additional 266,321 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $96,505,000 after buying an additional 109,099 shares during the period. Finally, FIL Ltd raised its holdings in shares of Diamondback Energy by 172.9% during the 3rd quarter. FIL Ltd now owns 675,696 shares of the oil and natural gas company’s stock valued at $91,348,000 after buying an additional 428,130 shares during the period.
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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