Diamondback Energy Inc (NASDAQ:FANG) – Analysts at SunTrust Banks lowered their Q4 2018 EPS estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday, November 5th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings of $1.88 per share for the quarter, down from their prior estimate of $1.90. SunTrust Banks currently has a “Buy” rating and a $175.00 price target on the stock.
Several other research analysts have also recently weighed in on FANG. Morgan Stanley upped their price target on shares of Diamondback Energy from $163.00 to $176.00 and gave the stock an “overweight” rating in a report on Thursday, July 12th. Jefferies Financial Group set a $181.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Friday, July 13th. BidaskClub cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Stifel Nicolaus set a $166.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Thursday, July 19th. Finally, Williams Capital reaffirmed a “hold” rating and issued a $162.00 price target on shares of Diamondback Energy in a report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $156.45.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 11.06%. The business had revenue of $538.03 million for the quarter, compared to analysts’ expectations of $518.32 million. During the same quarter in the previous year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 78.6% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the stock. Keybank National Association OH grew its position in Diamondback Energy by 2.3% in the third quarter. Keybank National Association OH now owns 263,135 shares of the oil and natural gas company’s stock worth $35,573,000 after acquiring an additional 5,843 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Diamondback Energy by 11.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,778 shares of the oil and natural gas company’s stock valued at $3,350,000 after buying an additional 2,532 shares during the period. Jennison Associates LLC purchased a new stake in Diamondback Energy during the third quarter valued at about $13,005,000. Mitchell Capital Management Co. purchased a new stake in Diamondback Energy during the third quarter valued at about $1,789,000. Finally, Piedmont Investment Advisors Inc. boosted its position in Diamondback Energy by 89.6% during the third quarter. Piedmont Investment Advisors Inc. now owns 3,723 shares of the oil and natural gas company’s stock valued at $503,000 after buying an additional 1,759 shares during the period.
In related news, VP Russell Pantermuehl sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the transaction, the vice president now directly owns 89,532 shares in the company, valued at $11,442,189.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Monday, November 19th will be given a $0.125 dividend. The ex-dividend date is Friday, November 16th. This represents a $0.50 annualized dividend and a yield of 0.45%. Diamondback Energy’s dividend payout ratio (DPR) 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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