FY2024 EPS Forecast for Diamondback Energy Lifted by Analyst

Diamondback Energy, Inc. (NASDAQ:FANG) – Analysts at Zacks Research upped their FY2024 earnings per share estimates for Diamondback Energy in a report released on Monday, November 25th. Zacks Research analyst N. Choudhury now expects that the oil and natural gas company will earn $15.57 per share for the year, up from their prior forecast of $15.53. The consensus estimate for Diamondback Energy’s current full-year earnings is $16.26 per share. Zacks Research also issued estimates for Diamondback Energy’s Q4 2024 earnings at $3.17 EPS, Q1 2025 earnings at $3.73 EPS, Q2 2025 earnings at $3.47 EPS, Q3 2025 earnings at $3.26 EPS, FY2025 earnings at $14.61 EPS, Q1 2026 earnings at $3.84 EPS, Q2 2026 earnings at $3.89 EPS, Q3 2026 earnings at $4.00 EPS and FY2026 earnings at $15.82 EPS.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.49 EPS.

Several other equities research analysts have also recently weighed in on FANG. Susquehanna decreased their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Truist Financial increased their price target on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI lowered their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $177.59 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The company has a 50 day simple moving average of $181.95 and a two-hundred day simple moving average of $189.92. The company has a market capitalization of $51.85 billion, a PE ratio of 10.17, a P/E/G ratio of 1.30 and a beta of 1.89.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FANG. State Street Corp raised its stake in shares of Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the period. Geode Capital Management LLC raised its position in Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the period. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after acquiring an additional 415,902 shares during the last quarter. Boston Partners grew its position in shares of Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after acquiring an additional 1,916,900 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.