Brokers Offer Predictions for FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Capital One Financial decreased their FY2024 EPS estimates for Diamondback Energy in a report issued on Monday, November 11th. Capital One Financial analyst B. Velie now anticipates that the oil and natural gas company will post earnings per share of $15.83 for the year, down from their prior forecast of $17.80. The consensus estimate for Diamondback Energy's current full-year earnings is $17.00 per share. Capital One Financial also issued estimates for Diamondback Energy's Q4 2024 earnings at $3.43 EPS, Q1 2025 earnings at $3.01 EPS, Q2 2025 earnings at $3.03 EPS, Q3 2025 earnings at $3.09 EPS, Q4 2025 earnings at $3.16 EPS, FY2025 earnings at $12.28 EPS and FY2026 earnings at $12.99 EPS.

A number of other equities analysts also recently commented on the stock. Truist Financial raised their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Benchmark reaffirmed a "buy" rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Sanford C. Bernstein dropped their target price on Diamondback Energy from $243.00 to $236.00 and set an "outperform" rating on the stock in a report on Wednesday, July 17th. Evercore ISI lowered their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating for the company in a research report on Monday, September 30th. Finally, Susquehanna reduced their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a "positive" rating on the stock in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $209.64.

Diamondback Energy Trading Down 0.5 %

FANG traded down $1.00 on Thursday, reaching $181.24. 586,363 shares of the company's stock were exchanged, compared to its average volume of 1,747,833. The company has a market cap of $52.92 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 1.27 and a beta of 1.89. 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 twelve month low of $145.70 and a twelve month high of $214.50. The company's 50 day moving average is $181.26 and its 200-day moving average is $191.70.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted 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 analysts' consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy's revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $5.49 EPS.

Hedge Funds Weigh In On Diamondback Energy

A number of institutional investors and hedge funds have recently bought and sold shares of FANG. Price T Rowe Associates Inc. MD boosted its stake in Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock valued at $1,706,076,000 after buying an additional 2,381,488 shares in the last quarter. Boston Partners boosted 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 purchasing an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp acquired a new position in shares of Diamondback Energy in the 1st quarter worth approximately $87,940,000. Diamond Hill Capital Management Inc. raised its holdings in shares of Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock worth $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock worth $603,038,000 after buying an additional 415,902 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy's dividend payout ratio (DPR) is 20.61%.

About Diamondback Energy

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.