Brokers Offer Predictions for FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Analysts at Capital One Financial reduced their FY2024 EPS estimates for Diamondback Energy in a research report issued to clients and investors on Tuesday, January 14th. Capital One Financial analyst B. Velie now anticipates that the oil and natural gas company will post earnings per share of $15.30 for the year, down from their prior forecast of $15.88. The consensus estimate for Diamondback Energy's current full-year earnings is $16.08 per share. Capital One Financial also issued estimates for Diamondback Energy's Q4 2024 earnings at $2.90 EPS.

Other equities analysts have also recently issued reports about the company. Susquehanna decreased their price target on Diamondback Energy from $237.00 to $233.00 and set a "positive" rating on the stock in a research note on Friday, October 18th. Truist Financial lifted their target price on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a "buy" rating in a research note on Monday. KeyCorp dropped their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Johnson Rice cut shares of Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $210.63.

Diamondback Energy Trading Up 0.6 %

Shares of FANG traded up $1.06 during trading hours on Friday, hitting $180.18. The company had a trading volume of 1,810,899 shares, compared to its average volume of 2,007,008. The firm has a market cap of $52.61 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.33 and a beta of 1.88. Diamondback Energy has a 52-week low of $147.93 and a 52-week high of $214.50. The stock's 50 day moving average price is $170.60 and its 200 day moving average price is $183.24. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the business earned $5.49 EPS. Diamondback Energy's revenue for the quarter was up 13.0% compared to the same quarter last year.

Institutional Trading of Diamondback Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Carolinas Wealth Consulting LLC boosted its position in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock valued at $27,000 after buying an additional 55 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in shares of Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company's stock valued at $329,000 after acquiring an additional 55 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Diamondback Energy by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company's stock valued at $1,566,000 after acquiring an additional 60 shares during the last quarter. Greenup Street Wealth Management LLC grew its stake in shares of Diamondback Energy by 3.4% in the third quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company's stock worth $313,000 after acquiring an additional 60 shares during the period. Finally, Lakewood Asset Management LLC raised its holdings in shares of Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock valued at $1,858,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm'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 completion of the sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by company insiders.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

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.