Diamondback Energy Inc (NASDAQ:FANG) – Investment analysts at Piper Jaffray Companies reduced their Q4 2020 earnings estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday, March 18th. Piper Jaffray Companies analyst R. Todd now expects that the oil and natural gas company will post earnings of $2.78 per share for the quarter, down from their prior estimate of $2.84.
Several other analysts have also recently weighed in on FANG. Jefferies Financial Group started coverage on Diamondback Energy in a research report on Monday, December 3rd. They set a “buy” rating and a $177.00 price objective on the stock. Cowen started coverage on Diamondback Energy in a research report on Thursday, November 29th. They set an “outperform” rating on the stock. Morgan Stanley lifted their price objective on Diamondback Energy from $147.00 to $154.00 and gave the company an “overweight” rating in a research report on Thursday, February 21st. BidaskClub raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. Finally, ValuEngine raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $159.86.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 19th. The oil and natural gas company reported $1.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.41). The business had revenue of $633.06 million during the quarter, compared to the consensus estimate of $663.21 million. Diamondback Energy had a return on equity of 7.83% and a net margin of 38.84%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Jackson Hole Capital Partners LLC purchased a new position in Diamondback Energy in the 4th quarter worth approximately $201,000. Norges Bank purchased a new position in Diamondback Energy in the 4th quarter worth approximately $141,883,000. Kentucky Retirement Systems purchased a new position in Diamondback Energy in the 4th quarter worth approximately $622,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Diamondback Energy in the 4th quarter worth approximately $283,000. Finally, Aurora Investment Counsel raised its holdings in Diamondback Energy by 4.7% in the 4th quarter. Aurora Investment Counsel now owns 16,854 shares of the oil and natural gas company’s stock worth $1,562,000 after acquiring an additional 760 shares during the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Randall J. Holder sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $104.13, for a total value of $416,520.00. Following the sale, the insider now directly owns 14,448 shares of the company’s stock, valued at approximately $1,504,470.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $101.82, for a total value of $173,094.00. Following the completion of the sale, the chief financial officer now directly owns 28,965 shares in the company, valued at $2,949,216.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,050 shares of company stock worth $626,158. Insiders own 0.57% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 21st were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.48%. Diamondback Energy’s dividend payout ratio is currently 8.52%.
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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