Diamondback Energy Inc (NASDAQ:FANG) – Equities researchers at Imperial Capital issued their Q1 2019 earnings per share estimates for Diamondback Energy in a research report issued on Thursday, November 8th. Imperial Capital analyst J. Wangler forecasts that the oil and natural gas company will earn $2.25 per share for the quarter. Imperial Capital has a “Outperform” rating and a $170.00 price target on the stock. Imperial Capital also issued estimates for Diamondback Energy’s Q2 2019 earnings at $2.44 EPS, Q3 2019 earnings at $2.70 EPS and Q4 2019 earnings at $3.07 EPS.
A number of other brokerages have also weighed in on FANG. Oppenheimer began coverage on Diamondback Energy in a research report on Wednesday, October 3rd. They set an “outperform” rating and a $166.00 target price on the stock. BidaskClub raised Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 5th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Diamondback Energy in a research report on Friday, September 28th. TD Securities set a $175.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Saturday, August 11th. Finally, ValuEngine raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Four investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Diamondback Energy currently has an average rating of “Buy” and a consensus price target 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 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 company had revenue of $538.03 million for the quarter, compared to analyst estimates of $518.32 million. During the same period in the prior year, the firm earned $1.33 earnings per share. Diamondback Energy’s revenue for the quarter was up 78.6% on a year-over-year basis.
Large investors have recently made changes to their positions in the business. Bray Capital Advisors bought a new position in Diamondback Energy in the 3rd quarter valued at $116,000. First Hawaiian Bank bought a new position in Diamondback Energy in the 3rd quarter valued at $121,000. Captrust Financial Advisors grew its stake in Diamondback Energy by 99.8% in the 2nd quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 497 shares during the period. Wedbush Securities Inc. bought a new position in Diamondback Energy in the 2nd quarter valued at $201,000. Finally, Private Advisor Group LLC bought a new position in Diamondback Energy in the 2nd quarter valued at $204,000.
In related news, VP Russell Pantermuehl sold 2,000 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the sale, the vice president now directly owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.57% of the company’s stock.
The business also recently declared 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. This represents a $0.50 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, November 16th. Diamondback Energy’s payout ratio is currently 9.43%.
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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