Diamondback Energy (FANG) Set to Announce Quarterly Earnings on Monday

Diamondback Energy (NASDAQ:FANG) will be announcing its earnings results after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $4.62 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period last year, the firm posted $3.68 earnings per share. On average, analysts expect Diamondback Energy to post $17 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Diamondback Energy Stock Performance

Shares of FANG opened at $184.38 on Monday. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The firm has a market cap of $32.88 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89. The company’s 50 day simple moving average is $184.90 and its 200-day simple moving average is $193.93. Diamondback Energy has a 12-month low of $145.70 and a 12-month high of $214.50.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of analyst reports. Sanford C. Bernstein lowered their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Citigroup initiated coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Morgan Stanley lifted their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Wolfe Research initiated coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.