FANG FY2024 EPS Forecast Raised by Capital One Financial

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Investment analysts at Capital One Financial upped their FY2024 earnings per share estimates for shares of Diamondback Energy in a research note issued on Wednesday, January 8th. Capital One Financial analyst B. Velie now anticipates that the oil and natural gas company will post earnings per share of $15.88 for the year, up from their previous estimate 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.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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). 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 during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $5.49 EPS. The business's revenue was up 13.0% on a year-over-year basis.

Several other analysts have also commented on FANG. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Jefferies Financial Group assumed coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a "hold" rating and a $185.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Wednesday, November 6th. Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a "buy" rating and a $227.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of "Moderate Buy" and an average price target of $209.83.

Diamondback Energy Trading Up 2.2 %

NASDAQ:FANG opened at $174.77 on Monday. 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. The company has a 50-day moving average price of $170.76 and a 200-day moving average price of $183.77. The stock has a market cap of $51.03 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 1.19 and a beta of 1.88.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.06%. Diamondback Energy's payout ratio is 20.61%.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company's stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FANG. LPL Financial LLC boosted its stake in shares of Diamondback Energy by 12.6% during the 2nd quarter. LPL Financial LLC now owns 198,965 shares of the oil and natural gas company's stock worth $39,831,000 after acquiring an additional 22,194 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Diamondback Energy by 2.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 38,135 shares of the oil and natural gas company's stock worth $7,594,000 after buying an additional 932 shares during the period. Meeder Advisory Services Inc. lifted its position in shares of Diamondback Energy by 33.3% during the 2nd quarter. Meeder Advisory Services Inc. now owns 3,481 shares of the oil and natural gas company's stock valued at $697,000 after buying an additional 869 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Diamondback Energy by 218.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,432 shares of the oil and natural gas company's stock valued at $487,000 after acquiring an additional 1,668 shares during the period. Finally, CoreCap Advisors LLC purchased a new stake in Diamondback Energy in the 2nd quarter worth approximately $375,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.