Wall Street analysts forecast that Diamondback Energy Inc (NASDAQ:FANG) will post $1.10 billion in sales for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for Diamondback Energy’s earnings. The lowest sales estimate is $1.02 billion and the highest is $1.20 billion. Diamondback Energy posted sales of $538.03 million during the same quarter last year, which suggests a positive year over year growth rate of 104.4%. The company is expected to issue its next quarterly earnings report on Tuesday, November 5th.

On average, analysts expect that Diamondback Energy will report full year sales of $4.13 billion for the current year, with estimates ranging from $3.92 billion to $4.50 billion. For the next fiscal year, analysts expect that the business will report sales of $5.36 billion, with estimates ranging from $4.67 billion to $8.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Diamondback Energy.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.04). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 EPS.

FANG has been the topic of a number of research analyst reports. Northland Securities reaffirmed a “buy” rating and set a $150.00 price target on shares of Diamondback Energy in a report on Wednesday, August 7th. Royal Bank of Canada reiterated a “buy” rating and issued a $156.00 price objective on shares of Diamondback Energy in a report on Sunday, August 11th. TD Securities downgraded Diamondback Energy from an “action list buy” rating to a “buy” rating and set a $155.00 price objective for the company. in a report on Friday, September 6th. Piper Jaffray Companies set a $156.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Wells Fargo & Co upped their target price on shares of Diamondback Energy from $169.00 to $171.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $152.95.

In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $107.28, for a total value of $536,400.00. Following the completion of the sale, the vice president now owns 112,107 shares in the company, valued at $12,026,838.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $107.47, for a total value of $161,205.00. Following the completion of the transaction, the chief financial officer now directly owns 27,465 shares in the company, valued at approximately $2,951,663.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,500 shares of company stock valued at $1,700,415. 0.47% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Archford Capital Strategies LLC raised its holdings in Diamondback Energy by 1,100.0% during the second quarter. Archford Capital Strategies LLC now owns 240 shares of the oil and natural gas company’s stock valued at $26,000 after acquiring an additional 220 shares during the period. Berman Capital Advisors LLC grew its holdings in Diamondback Energy by 180.8% during the 1st quarter. Berman Capital Advisors LLC now owns 292 shares of the oil and natural gas company’s stock valued at $29,000 after buying an additional 188 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Diamondback Energy during the second quarter valued at approximately $32,000. Manchester Capital Management LLC bought a new stake in shares of Diamondback Energy during the first quarter valued at approximately $34,000. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Diamondback Energy by 81.7% in the second quarter. Commonwealth Bank of Australia now owns 338 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 152 shares in the last quarter. Institutional investors own 99.30% of the company’s stock.

FANG traded down $0.74 during trading on Friday, hitting $98.72. 1,199,595 shares of the company’s stock traded hands, compared to its average volume of 1,765,221. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 0.47 and a beta of 0.83. The company’s 50 day simple moving average is $97.56 and its two-hundred day simple moving average is $102.58. Diamondback Energy has a 12-month low of $85.19 and a 12-month high of $140.78. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.188 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.75 dividend on an annualized basis and a yield of 0.76%. Diamondback Energy’s dividend payout ratio 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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