Diamondback Energy Inc (NASDAQ:FANG) – US Capital Advisors boosted their FY2019 earnings estimates for shares of Diamondback Energy in a research note issued to investors on Thursday, January 9th. US Capital Advisors analyst C. Horwitz now forecasts that the oil and natural gas company will post earnings of $6.19 per share for the year, up from their prior forecast of $6.13. US Capital Advisors also issued estimates for Diamondback Energy’s Q4 2019 earnings at $1.64 EPS, Q1 2020 earnings at $2.50 EPS, Q2 2020 earnings at $2.73 EPS, Q3 2020 earnings at $2.79 EPS, Q4 2020 earnings at $2.79 EPS, FY2020 earnings at $10.82 EPS, Q1 2021 earnings at $2.93 EPS, Q2 2021 earnings at $2.78 EPS, Q3 2021 earnings at $2.77 EPS, Q4 2021 earnings at $2.79 EPS and FY2021 earnings at $11.27 EPS.
Several other equities research analysts also recently weighed in on FANG. Barclays decreased their target price on Diamondback Energy from $189.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Credit Suisse Group reaffirmed a “buy” rating and issued a $116.00 target price on shares of Diamondback Energy in a research report on Thursday, November 28th. Bank of America reaffirmed a “buy” rating and issued a $148.00 target price on shares of Diamondback Energy in a research report on Wednesday, January 8th. TD Securities decreased their target price on Diamondback Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Morgan Stanley decreased their target price on Diamondback Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $132.67.
Shares of NASDAQ FANG opened at $90.48 on Monday. Diamondback Energy has a 1-year low of $73.18 and a 1-year high of $114.14. The business has a 50-day moving average of $86.93 and a 200-day moving average of $91.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.72 and a quick ratio of 0.68. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 0.83 and a beta of 0.85.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, November 5th. The oil and natural gas company reported $1.47 earnings per share 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 analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.67 EPS. Diamondback Energy’s quarterly revenue was up 81.6% on a year-over-year basis.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Hawaiian Bank bought a new position in Diamondback Energy during the 4th quarter worth approximately $244,000. Fruth Investment Management increased its holdings in shares of Diamondback Energy by 7.7% in the 4th quarter. Fruth Investment Management now owns 2,479 shares of the oil and natural gas company’s stock valued at $230,000 after acquiring an additional 178 shares during the last quarter. Bright Rock Capital Management LLC raised its position in shares of Diamondback Energy by 10.5% during the 4th quarter. Bright Rock Capital Management LLC now owns 21,100 shares of the oil and natural gas company’s stock valued at $1,959,000 after acquiring an additional 2,000 shares in the last quarter. Altfest L J & Co. Inc. acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $203,000. Finally, Hellman Jordan Management Co. Inc. MA raised its position in shares of Diamondback Energy by 164.6% during the 3rd quarter. Hellman Jordan Management Co. Inc. MA now owns 12,065 shares of the oil and natural gas company’s stock valued at $1,085,000 after acquiring an additional 7,505 shares in the last quarter. 98.48% of the stock is 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.
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