Diamondback Energy Inc (NASDAQ:FANG) – Stock analysts at US Capital Advisors cut their Q1 2020 earnings per share estimates for shares of Diamondback Energy in a research report issued to clients and investors on Thursday, January 30th. US Capital Advisors analyst C. Horwitz now forecasts that the oil and natural gas company will post earnings of $1.88 per share for the quarter, down from their prior estimate of $2.50. US Capital Advisors also issued estimates for Diamondback Energy’s Q2 2020 earnings at $2.07 EPS, Q3 2020 earnings at $2.16 EPS, Q4 2020 earnings at $2.21 EPS, FY2020 earnings at $8.32 EPS, Q1 2021 earnings at $2.38 EPS, Q2 2021 earnings at $2.30 EPS, Q3 2021 earnings at $2.34 EPS, Q4 2021 earnings at $2.39 EPS and FY2021 earnings at $9.40 EPS.
Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.24). Diamondback Energy had a return on equity of 6.01% and a net margin of 29.59%. The company had revenue of $975.00 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The firm’s revenue for the quarter was up 81.6% on a year-over-year basis.
FANG has been the topic of several other reports. Oppenheimer lowered Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $138.00 price target on the stock. in a research report on Thursday, November 7th. Roth Capital raised their price objective on Diamondback Energy from $140.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. BidaskClub downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 29th. Morgan Stanley dropped their price objective on Diamondback Energy from $106.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $116.00 price objective on shares of Diamondback Energy in a research note on Thursday, November 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $131.05.
NASDAQ:FANG opened at $74.40 on Monday. Diamondback Energy has a 12-month low of $73.18 and a 12-month high of $114.14. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $11.94 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.67 and a beta of 0.85. The stock’s fifty day simple moving average is $88.50 and its 200-day simple moving average is $89.76.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FANG. Millennium Management LLC raised its stake in shares of Diamondback Energy by 358.9% in the 3rd quarter. Millennium Management LLC now owns 2,349,370 shares of the oil and natural gas company’s stock valued at $211,231,000 after purchasing an additional 1,837,358 shares during the period. BlackRock Inc. increased its position in shares of Diamondback Energy by 4.7% in the second quarter. BlackRock Inc. now owns 10,717,934 shares of the oil and natural gas company’s stock valued at $1,167,931,000 after acquiring an additional 485,647 shares during the last quarter. Anchor Capital Advisors LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at about $28,206,000. Voya Investment Management LLC increased its position in shares of Diamondback Energy by 365.5% in the third quarter. Voya Investment Management LLC now owns 376,839 shares of the oil and natural gas company’s stock valued at $33,882,000 after acquiring an additional 295,883 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Diamondback Energy by 43.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 927,821 shares of the oil and natural gas company’s stock valued at $83,421,000 after acquiring an additional 282,497 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
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.