Brokerages predict that Diamondback Energy Inc (NASDAQ:FANG) will post sales of $635.17 million for the current quarter, Zacks reports. Thirteen analysts have provided estimates for Diamondback Energy’s earnings, with the highest sales estimate coming in at $836.00 million and the lowest estimate coming in at $538.23 million. Diamondback Energy posted sales of $399.19 million during the same quarter last year, which suggests a positive year over year growth rate of 59.1%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 12th.

According to Zacks, analysts expect that Diamondback Energy will report full-year sales of $2.10 billion for the current year, with estimates ranging from $1.87 billion to $2.38 billion. For the next year, analysts forecast that the firm will post sales of $4.89 billion, with estimates ranging from $2.68 billion to $5.83 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.15. The business had revenue of $538.03 million for the quarter, compared to the consensus estimate of $518.32 million. Diamondback Energy had a net margin of 33.63% and a return on equity of 10.75%. Diamondback Energy’s revenue for the quarter was up 78.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 earnings per share.

A number of brokerages recently issued reports on FANG. Raymond James reiterated a “buy” rating and issued a $166.00 price objective on shares of Diamondback Energy in a report on Monday, August 13th. BMO Capital Markets reiterated a “hold” rating and issued a $135.00 price objective on shares of Diamondback Energy in a report on Friday, August 17th. TD Securities set a $175.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Saturday, August 11th. Imperial Capital upped their price objective on shares of Diamondback Energy from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. Finally, Stifel Nicolaus set a $166.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a report on Wednesday, August 15th. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $157.18.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total transaction of $255,600.00. Following the completion of the sale, the vice president now directly owns 89,532 shares in the company, valued at $11,442,189.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in shares of Diamondback Energy in the third quarter valued at about $100,000. Bray Capital Advisors bought a new stake in shares of Diamondback Energy in the third quarter valued at about $116,000. First Hawaiian Bank bought a new stake in shares of Diamondback Energy in the third quarter valued at about $121,000. Captrust Financial Advisors lifted its stake in shares of Diamondback Energy by 99.8% in the second quarter. Captrust Financial Advisors now owns 995 shares of the oil and natural gas company’s stock valued at $131,000 after buying an additional 497 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Diamondback Energy by 93.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,217 shares of the oil and natural gas company’s stock valued at $165,000 after buying an additional 588 shares during the period.

NASDAQ:FANG traded up $0.50 during trading hours on Wednesday, reaching $109.23. The company’s stock had a trading volume of 1,527,400 shares, compared to its average volume of 1,669,837. The stock has a market capitalization of $11.52 billion, a PE ratio of 20.61, a P/E/G ratio of 0.65 and a beta of 0.70. Diamondback Energy has a one year low of $105.66 and a one year high of $140.78. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, November 16th. Diamondback Energy’s dividend payout ratio (DPR) is 9.43%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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