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Recap: Diamondback Energy Q4 Earnings

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Benzinga Insights
·1 min read
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Shares of Diamondback Energy (NASDAQ:FANG) moved lower in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were down 57.51% over the past year to $0.82, which beat the estimate of $0.81.

Revenue of $769,000,000 declined by 30.34% year over year, which missed the estimate of $769,690,000.

Guidance

Diamondback Energy Sees FY21 Net Production Of 308-325 MBOE/d

Price Action

52-week high: $81.59

View more earnings on FANG

52-week low: $14.55

Price action over last quarter: Up 143.24%

Company Description

Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2019, the company reported net proven reserves of 1.1 billion barrels of oil equivalent. Net production averaged about 283,000 barrels per day in 2019, at a ratio of 66% oil, 18% natural gas liquids, and 16% natural gas.

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