Equities Analysts Set Expectations for FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Capital One Financial boosted their FY2024 earnings estimates for shares of Diamondback Energy in a research report issued to clients and investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will post earnings per share of $15.88 for the year, up from their previous forecast of $15.83. The consensus estimate for Diamondback Energy’s current full-year earnings is $16.51 per share. Capital One Financial also issued estimates for Diamondback Energy’s Q4 2024 earnings at $3.48 EPS, Q1 2025 earnings at $3.62 EPS, Q2 2025 earnings at $3.66 EPS, Q3 2025 earnings at $3.73 EPS, Q4 2025 earnings at $3.82 EPS, FY2025 earnings at $14.83 EPS and FY2026 earnings at $13.61 EPS.

FANG has been the subject of a number of other reports. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Raymond James upped their price objective on Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $210.08.

Diamondback Energy Trading Up 1.6 %

Shares of NASDAQ:FANG opened at $177.61 on Monday. The stock has a 50 day moving average of $170.72 and a 200 day moving average of $183.62. The company has a market cap of $51.86 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. Diamondback Energy has a 12-month low of $147.93 and a 12-month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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

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. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s 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 transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.

Institutional Trading of Diamondback Energy

Several institutional investors have recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC raised its holdings in shares of Diamondback Energy by 1.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 12,576 shares of the oil and natural gas company’s stock worth $2,060,000 after buying an additional 208 shares during the period. Fulcrum Capital LLC increased its stake in Diamondback Energy by 1.2% in the fourth quarter. Fulcrum Capital LLC now owns 28,558 shares of the oil and natural gas company’s stock worth $4,679,000 after purchasing an additional 332 shares during the period. Moody National Bank Trust Division increased its stake in Diamondback Energy by 50.6% in the fourth quarter. Moody National Bank Trust Division now owns 30,120 shares of the oil and natural gas company’s stock worth $4,935,000 after purchasing an additional 10,120 shares during the period. Salem Investment Counselors Inc. boosted its stake in shares of Diamondback Energy by 0.6% during the fourth quarter. Salem Investment Counselors Inc. now owns 21,892 shares of the oil and natural gas company’s stock valued at $3,587,000 after purchasing an additional 120 shares during the period. Finally, Fragasso Financial Advisors Inc grew its holdings in shares of Diamondback Energy by 3.8% in the fourth quarter. Fragasso Financial Advisors Inc now owns 1,928 shares of the oil and natural gas company’s stock worth $316,000 after purchasing an additional 70 shares during the last quarter. 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.