Diamondback Energy (NASDAQ:FANG) Issues Quarterly Earnings Results, Beats Expectations By $0.87 EPS

Diamondback Energy (NASDAQ:FANG - Get Free Report) posted its earnings results on Monday. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate of $3.67 by $0.87, Zacks reports. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $3.73 during trading on Monday, hitting $133.08. 2,864,828 shares of the company's stock traded hands, compared to its average volume of 2,101,971. Diamondback Energy has a 1 year low of $114.00 and a 1 year high of $214.50. The business has a 50-day simple moving average of $142.89 and a 200-day simple moving average of $160.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market capitalization of $39.14 billion, a P/E ratio of 7.62, a PEG ratio of 1.24 and a beta of 1.44.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.01%. Diamondback Energy's payout ratio is currently 25.32%.

Insider Activity

In related news, Director Frank D. Tsuru bought 2,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial upped their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. KeyCorp reduced their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Barclays dropped their target price on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $197.70.

About Diamondback Energy

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.

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