Diamondback Energy (NASDAQ:FANG) Releases Earnings Results

Diamondback Energy (NASDAQ:FANG) posted its quarterly earnings results on Monday. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07, Zacks reports. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%.

Diamondback Energy Price Performance

NASDAQ:FANG traded down $0.89 during mid-day trading on Monday, reaching $155.23. 2,884,742 shares of the stock were exchanged, compared to its average volume of 2,087,855. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average price of $165.60 and a 200 day moving average price of $176.57. Diamondback Energy has a 1-year low of $152.00 and a 1-year high of $214.50. The firm has a market capitalization of $45.33 billion, a PE ratio of 8.89, a PEG ratio of 1.24 and a beta of 1.86.

Analyst Ratings Changes

A number of brokerages have issued reports on FANG. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Friday, January 3rd. Benchmark reissued a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. Mizuho dropped their target price on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.22.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It 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.