Diamondback Energy (FANG) to Release Earnings on Monday

Diamondback Energy (NASDAQ:FANG) will issue its quarterly earnings data 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 registering for the company’s conference call can do so using this link.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the business posted $3.68 EPS. The company’s revenue was up 29.4% compared to the same quarter last year. 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 Trading Down 0.5 %

NASDAQ FANG opened at $175.81 on Friday. The firm’s 50-day moving average is $183.29 and its two-hundred day moving average is $192.99. The stock has a market capitalization of $51.82 billion, a P/E ratio of 9.09, a PEG ratio of 1.23 and a beta of 1.89. Diamondback Energy has a 12 month low of $145.70 and a 12 month high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio (DPR) is presently 18.60%.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FANG shares. Piper Sandler upped their price target on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price target on shares of Diamondback Energy in a research report on Tuesday, September 17th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Finally, Susquehanna reduced their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.