Equities research analysts expect Diamondback Energy, Inc. (NASDAQ:FANG) to report $278.87 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Diamondback Energy’s earnings. The highest sales estimate is $298.68 million and the lowest is $258.00 million. Diamondback Energy posted sales of $112.48 million in the same quarter last year, which suggests a positive year-over-year growth rate of 147.9%. The company is expected to report its next quarterly earnings results on Tuesday, August 1st.
On average, analysts expect that Diamondback Energy will report full-year sales of $278.87 million for the current year, with estimates ranging from $1.13 billion to $1.36 billion. For the next financial year, analysts anticipate that the company will post sales of $1.76 billion per share, with estimates ranging from $1.33 billion to $2.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, May 2nd. The oil and natural gas company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.43. The company had revenue of $235.23 million during the quarter, compared to analysts’ expectations of $218.62 million. Diamondback Energy had a return on equity of 6.51% and a net margin of 0.62%.
A number of analysts have commented on the company. BidaskClub cut Diamondback Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Wolfe Research started coverage on Diamondback Energy in a report on Thursday, June 15th. They issued an “outperform” rating and a $120.00 price objective for the company. Credit Suisse Group reissued an “outperform” rating and issued a $151.00 price objective on shares of Diamondback Energy in a report on Friday, June 2nd. Stifel Nicolaus reissued a “buy” rating on shares of Diamondback Energy in a report on Friday, May 26th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $141.00 price objective on shares of Diamondback Energy in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $118.43.
In other Diamondback Energy news, Director Steven E. West acquired 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $103.45 per share, for a total transaction of $248,280.00. Following the completion of the acquisition, the director now owns 2,400 shares of the company’s stock, valued at approximately $248,280. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $101.52, for a total value of $101,520.00. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Toronto Dominion Bank boosted its position in Diamondback Energy by 26.2% in the first quarter. Toronto Dominion Bank now owns 969 shares of the oil and natural gas company’s stock worth $100,000 after buying an additional 201 shares during the period. Winch Advisory Services LLC purchased a new position in Diamondback Energy during the first quarter worth approximately $105,000. State of Alaska Department of Revenue purchased a new position in Diamondback Energy during the first quarter worth approximately $180,000. Stevens Capital Management LP purchased a new position in Diamondback Energy during the first quarter worth approximately $201,000. Finally, Teza Capital Management LLC purchased a new position in Diamondback Energy during the first quarter worth approximately $202,000. Institutional investors own 98.30% of the company’s stock.
Shares of Diamondback Energy (FANG) opened at 86.75 on Thursday. The stock has a market cap of $8.51 billion, a PE ratio of 1845.74 and a beta of 1.04. The company’s 50-day moving average price is $95.79 and its 200-day moving average price is $101.38. Diamondback Energy has a 52-week low of $82.80 and a 52-week high of $114.00.
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Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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