Diamondback Energy (NASDAQ:FANG) Issues Quarterly Earnings Results


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

Shares of Diamondback Energy stock traded down $4.10 during trading on Tuesday, hitting $79.82. The stock had a trading volume of 140,433 shares, compared to its average volume of 2,911,177. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.45 and a quick ratio of 0.43. The firm has a market cap of $14.45 billion, a P/E ratio of -2.96, a PEG ratio of 0.59 and a beta of 2.59. The business has a fifty day moving average of $77.44 and a two-hundred day moving average of $58.06. Diamondback Energy has a fifty-two week low of $23.63 and a fifty-two week high of $88.75.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 11th. Stockholders of record on Thursday, March 4th were issued a $0.40 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. Diamondback Energy’s dividend payout ratio is 23.09%.

FANG has been the topic of several recent research reports. Johnson Rice cut shares of Diamondback Energy from an “accumulate” rating to a “hold” rating in a report on Tuesday, March 9th. Scotiabank restated a “sector perform” rating and issued a $86.00 price target (up from $84.00) on shares of Diamondback Energy in a report on Wednesday, April 21st. BMO Capital Markets restated a “neutral” rating on shares of Diamondback Energy in a report on Tuesday, April 13th. TheStreet upgraded shares of Diamondback Energy from a “d+” rating to a “c-” rating in a report on Friday, March 12th. Finally, Roth Capital raised their price target on shares of Diamondback Energy from $84.00 to $115.00 and gave the company a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Diamondback Energy presently has a consensus rating of “Buy” and a consensus price target of $81.35.

In other news, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the company’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $77.24, for a total value of $146,756.00. Following the completion of the sale, the chief financial officer now owns 67,043 shares in the company, valued at $5,178,401.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,700,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Diamondback Energy Company Profile

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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