Diamondback Energy (NASDAQ:FANG) Posts Earnings Results, Beats Estimates By $0.07 EPS

Diamondback Energy (NASDAQ:FANG) issued its quarterly earnings results on Monday. The oil and natural gas company reported $3.64 earnings per share 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 Stock Down 0.6 %

Shares of FANG opened at $155.23 on Tuesday. The firm has a market cap of $45.33 billion, a P/E ratio of 8.89, a P/E/G ratio of 1.24 and a beta of 1.86. The stock has a 50 day simple moving average of $165.52 and a two-hundred day simple moving average of $176.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy has a 1 year low of $152.00 and a 1 year high of $214.50.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.58%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FANG shares. Benchmark restated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Truist Financial boosted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. UBS Group boosted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy has an average 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.