Diamondback Energy (NASDAQ:FANG) – Jefferies Group increased their Q1 2020 earnings per share estimates for shares of Diamondback Energy in a note issued to investors on Wednesday, May 16th. Jefferies Group analyst M. Lear now anticipates that the oil and natural gas company will earn $3.51 per share for the quarter, up from their prior estimate of $3.49. Jefferies Group has a “Buy” rating and a $162.00 price target on the stock. Jefferies Group also issued estimates for Diamondback Energy’s FY2020 earnings at $15.37 EPS.
A number of other equities research analysts have also recently weighed in on FANG. Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Roth Capital upped their price objective on Diamondback Energy from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. KeyCorp set a $137.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Sunday, January 21st. Credit Suisse Group set a $143.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price objective on Diamondback Energy from $138.00 to $167.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Three equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $142.04.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The firm had revenue of $480.20 million during the quarter, compared to analysts’ expectations of $445.78 million. Diamondback Energy had a return on equity of 10.53% and a net margin of 35.09%. The firm’s quarterly revenue was up 104.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 EPS.
Hedge funds have recently made changes to their positions in the company. Next Century Growth Investors LLC acquired a new position in shares of Diamondback Energy in the first quarter valued at about $121,000. ClariVest Asset Management LLC increased its holdings in shares of Diamondback Energy by 14,557.1% in the first quarter. ClariVest Asset Management LLC now owns 1,026 shares of the oil and natural gas company’s stock valued at $130,000 after purchasing an additional 1,019 shares during the period. Signaturefd LLC acquired a new position in shares of Diamondback Energy in the first quarter valued at about $132,000. Zions Bancorporation acquired a new stake in Diamondback Energy during the first quarter worth about $136,000. Finally, Captrust Financial Advisors acquired a new stake in Diamondback Energy during the fourth quarter worth about $149,000.
In other news, CFO Teresa L. Dick sold 2,500 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $130.97, for a total value of $327,425.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Randall J. Holder sold 7,120 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $124.15, for a total value of $883,948.00. The disclosure for this sale can be found here. Insiders sold 12,620 shares of company stock worth $1,567,773 over the last three months. Corporate insiders own 0.41% of the company’s stock.
The company also recently disclosed a special dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Monday, May 21st will be issued a $0.125 dividend. The ex-dividend date is Friday, May 18th.
Diamondback Energy Company Profile
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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