Diamondback Energy, Inc. (NASDAQ:FANG) independent oil and natural gas outfit, is expected to report third quarter earnings results, after market close, on Monday 2nd November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.37 per share.
Looking ahead, the full year income are expected at $ 2.49 per share on the revenues of $ 2862.81 million.
Previous Quarter Performance
Diamondback Energy, Inc. disclosed income for the second quarter of $ 0.15 per share, from the revenue of $ 425.00 million. The quarterly earnings declined 91.18 percent while revenues contracted 58.37 percent compared with the same quarter last year. The top line results fell short of analysts by $ 171.29 million or 28.73 percent.
Stock Performance
On Friday, shares of Diamondback Energy, Inc. has traded high as $ 25.99 and has cracked $ 24.85 on the downward trend, reaching $ 25.96 with volume of 3.40 million shares.
According to the previous trading day, closing price of $ 25.96, representing a 75.53 % increase from the 52 week low of $ 14.55 and a 73.65 % decrease over the 52 week high of $ 96.92.
The company has a market capital of $ 4.10 billion and is part of the Energy sector and Oil & Gas E&P industry.
Recent Analyst recommendations
- On 19th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 47.00 target price.
- On 14th October 2020, maintained by KeyBanc at Overweight rating, with $ 62.00 target price.
Recent Stock Dividend Announcement
On August 3, 2020, the board of directors authorized quarterly dividend of $ 0.375 per share to holders of record as of the close of business on August 13, 2020, with payment date of August 20, 2020 and ex-dividend date on August 12, 2020.
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. As of December 31, 2018, the companys net acreage position was approximately 461,218 acres in the Permian Basin; and estimated proved oil and natural gas reserves were 992,001 thousand barrels of crude oil equivalent.
