Zacks Research Issues Negative Outlook for FANG Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Zacks Research cut their Q3 2024 earnings per share estimates for shares of Diamondback Energy in a research report issued to clients and investors on Wednesday, October 23rd. Zacks Research analyst N. Choudhury now forecasts that the oil and natural gas company will post earnings of $3.40 per share for the quarter, down from their prior estimate of $4.20. The consensus estimate for Diamondback Energy’s current full-year earnings is $17.37 per share. Zacks Research also issued estimates for Diamondback Energy’s Q4 2024 earnings at $4.11 EPS, FY2024 earnings at $16.53 EPS, Q1 2025 earnings at $3.80 EPS, Q2 2025 earnings at $4.10 EPS, Q3 2025 earnings at $6.16 EPS, Q4 2025 earnings at $3.39 EPS, FY2025 earnings at $17.45 EPS, Q1 2026 earnings at $4.04 EPS, Q2 2026 earnings at $4.13 EPS and FY2026 earnings at $16.55 EPS.

FANG has been the topic of several other research reports. JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price on the stock. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Evercore ISI decreased their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Morgan Stanley boosted their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Diamondback Energy Trading Up 1.9 %

Shares of NASDAQ:FANG opened at $184.38 on Friday. The company has a 50 day moving average of $184.90 and a 200-day moving average of $194.10. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The firm has a market cap of $54.34 billion, a P/E ratio of 9.53, a P/E/G ratio of 1.27 and a beta of 1.89. Diamondback Energy has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.68 earnings per share.

Hedge Funds Weigh In On Diamondback Energy

Several institutional investors have recently bought and sold shares of FANG. Quent Capital LLC grew its holdings in Diamondback Energy by 7.2% in the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after buying an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC raised its holdings in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management lifted its position in shares of Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after acquiring an additional 55 shares during the period. Sugarloaf Wealth Management LLC grew its holdings in shares of Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Diamondback Energy by 16.1% in the second quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after purchasing an additional 57 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $2.34 dividend. This represents a dividend yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is 18.60%.

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.