Imperial Capital Comments on Diamondback Energy Inc’s Q3 2019 Earnings (NASDAQ:FANG)

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Diamondback Energy Inc (NASDAQ:FANG) – Analysts at Imperial Capital issued their Q3 2019 earnings per share estimates for shares of Diamondback Energy in a report released on Thursday, August 8th. Imperial Capital analyst J. Wangler anticipates that the oil and natural gas company will earn $2.01 per share for the quarter. Imperial Capital also issued estimates for Diamondback Energy’s Q4 2019 earnings at $2.31 EPS.

Several other equities analysts have also recently weighed in on FANG. TD Securities lifted their price objective on shares of Diamondback Energy from $155.00 to $160.00 and gave the stock an “action list buy” rating in a research report on Thursday, June 20th. KeyCorp lifted their price objective on shares of Diamondback Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Northland Securities reiterated a “buy” rating and set a $150.00 price objective on shares of Diamondback Energy in a research report on Wednesday, August 7th. Bank of America lifted their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, Credit Suisse Group assumed coverage on shares of Diamondback Energy in a research report on Monday, June 17th. They set an “outperform” rating and a $135.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the company. Diamondback Energy has an average rating of “Buy” and an average target price of $157.39.

NASDAQ FANG opened at $99.94 on Monday. Diamondback Energy has a twelve month low of $85.19 and a twelve month high of $140.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 0.82. The stock has a market cap of $15.88 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 0.64 and a beta of 0.82. The business’s 50 day moving average price is $103.18.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.04). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. The company’s quarterly revenue was up 93.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.59 EPS.

Several hedge funds have recently added to or reduced their stakes in the stock. Securian Asset Management Inc lifted its stake in shares of Diamondback Energy by 0.6% in the 1st quarter. Securian Asset Management Inc now owns 16,116 shares of the oil and natural gas company’s stock valued at $1,636,000 after purchasing an additional 95 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Diamondback Energy by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the oil and natural gas company’s stock valued at $833,000 after purchasing an additional 100 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Diamondback Energy by 7.6% in the 1st quarter. Penserra Capital Management LLC now owns 1,438 shares of the oil and natural gas company’s stock valued at $145,000 after purchasing an additional 102 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Diamondback Energy by 0.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 25,041 shares of the oil and natural gas company’s stock valued at $2,727,000 after purchasing an additional 103 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its stake in shares of Diamondback Energy by 2.0% in the 1st quarter. LS Investment Advisors LLC now owns 5,533 shares of the oil and natural gas company’s stock valued at $562,000 after purchasing an additional 106 shares during the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.

In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the completion of the sale, the vice president now owns 117,107 shares of the company’s stock, valued at approximately $13,137,063.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Travis D. Stice bought 4,186 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $95.55 per share, with a total value of $399,972.30. The disclosure for this purchase can be found here. Insiders have sold a total of 11,500 shares of company stock valued at $1,258,505 in the last three months. Company insiders own 0.47% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is currently 12.78%.

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 and Estimates for Diamondback Energy (NASDAQ:FANG)

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