Diamondback Energy (NASDAQ:FANG) Announces Earnings Results, Beats Expectations By $0.57 EPS

Diamondback Energy (NASDAQ:FANG) released its earnings results on Sunday. The oil and natural gas company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.57, MarketWatch Earnings reports. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $864.18 million. Diamondback Energy had a positive return on equity of 5.10% and a negative net margin of 135.48%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period last year, the firm earned $1.45 EPS.

NASDAQ FANG traded down $4.10 on Tuesday, hitting $79.82. 140,433 shares of the company’s stock were exchanged, compared to its average volume of 2,911,177. The stock has a 50-day moving average of $77.44 and a 200-day moving average of $58.06. The company has a current ratio of 0.45, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Diamondback Energy has a 52 week low of $23.63 and a 52 week high of $88.75. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of -2.96, a P/E/G ratio of 0.59 and a beta of 2.59.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 11th. Shareholders of record on Thursday, March 4th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 3rd. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 2.00%. Diamondback Energy’s dividend payout ratio is presently 23.09%.

Several equities research analysts have recently commented on the company. TD Securities lifted their target price on Diamondback Energy from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James reissued a “buy” rating on shares of Diamondback Energy in a research note on Tuesday, April 13th. Johnson Rice cut Diamondback Energy from an “accumulate” rating to a “hold” rating in a research note on Tuesday, March 9th. Susquehanna lifted their target price on Diamondback Energy from $79.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, February 24th. Finally, BMO Capital Markets restated a “neutral” rating on shares of Diamondback Energy in a research report on Tuesday, April 13th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $81.35.

In other news, CEO Travis D. Stice sold 20,000 shares of the company’s stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $85.00, for a total transaction of $1,700,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $77.24, for a total value of $146,756.00. Following the sale, the chief financial officer now owns 67,043 shares of the company’s stock, valued at $5,178,401.32. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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Earnings History for Diamondback Energy (NASDAQ:FANG)

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