Diamondback Energy, Inc. (NASDAQ:FANG) Expected to Announce Quarterly Sales of $1.31 Billion
Analysts expect that Diamondback Energy, Inc. (NASDAQ:FANG) will report sales of $1.31 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Diamondback Energy’s earnings. The highest sales estimate is $1.48 billion and the lowest is $1.22 billion. Diamondback Energy posted sales of $425.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 208.2%. The business is expected to issue its next earnings report on Monday, August 2nd.
According to Zacks, analysts expect that Diamondback Energy will report full-year sales of $4.85 billion for the current year, with estimates ranging from $3.91 billion to $5.62 billion. For the next financial year, analysts forecast that the company will post sales of $5.56 billion, with estimates ranging from $4.92 billion to $6.87 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Diamondback Energy.
Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Sunday, May 2nd. The oil and natural gas company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.57. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $864.18 million. Diamondback Energy had a negative net margin of 135.48% and a positive return on equity of 5.10%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share.
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 1,900 shares of the business’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $77.24, for a total transaction of $146,756.00. Following the completion of the sale, the chief financial officer now directly owns 67,043 shares in the company, valued at approximately $5,178,401.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Travis D. Stice sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Boston Partners grew its stake in shares of Diamondback Energy by 14.5% during the 4th quarter. Boston Partners now owns 2,622,195 shares of the oil and natural gas company’s stock valued at $126,915,000 after purchasing an additional 332,086 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,826,749 shares of the oil and natural gas company’s stock valued at $88,415,000 after purchasing an additional 343,400 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Diamondback Energy by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,208,281 shares of the oil and natural gas company’s stock valued at $58,481,000 after purchasing an additional 41,066 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Diamondback Energy by 45.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,121,378 shares of the oil and natural gas company’s stock valued at $54,274,000 after purchasing an additional 350,151 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Diamondback Energy by 131.0% during the 4th quarter. Wells Fargo & Company MN now owns 1,028,050 shares of the oil and natural gas company’s stock valued at $49,757,000 after buying an additional 583,073 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.
Shares of FANG stock traded down $4.72 during trading on Tuesday, hitting $79.20. The company had a trading volume of 4,626,976 shares, compared to its average volume of 2,931,769. The company has a quick ratio of 0.43, a current ratio of 0.45 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average is $77.47 and its two-hundred day moving average is $58.34. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of -2.94, a price-to-earnings-growth ratio of 0.59 and a beta of 2.59. Diamondback Energy has a 52 week low of $23.63 and a 52 week high of $88.75.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 11th. Investors of record on Thursday, March 4th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.02%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, March 3rd. Diamondback Energy’s dividend payout ratio (DPR) is presently 23.09%.
Diamondback Energy Company Profile
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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