Scotiabank Has Bullish Forecast for FANG FY2025 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Stock analysts at Scotiabank lifted their FY2025 earnings estimates for shares of Diamondback Energy in a research note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now anticipates that the oil and natural gas company will post earnings of $15.40 per share for the year, up from their previous estimate of $15.20. The consensus estimate for Diamondback Energy's current full-year earnings is $15.49 per share.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion.

FANG has been the topic of several other research reports. Wells Fargo & Company decreased their price target on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. UBS Group lifted their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Wolfe Research raised shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. Finally, Mizuho lifted their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.33.

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Diamondback Energy Price Performance

FANG traded down $2.86 on Monday, hitting $160.23. 1,468,020 shares of the company were exchanged, compared to its average volume of 1,877,916. Diamondback Energy has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $46.38 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The business's fifty day moving average is $159.49 and its 200 day moving average is $169.95.

Hedge Funds Weigh In On Diamondback Energy

Several hedge funds and other institutional investors have recently made changes to their positions in FANG. State Street Corp grew its stake in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock valued at $2,044,415,000 after acquiring an additional 149,871 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Boston Partners grew its stake in Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after purchasing an additional 571,820 shares in the last quarter. Geode Capital Management LLC increased its holdings in Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after purchasing an additional 91,605 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after purchasing an additional 502,916 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.48% of the company's stock.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. Diamondback Energy's payout ratio is currently 25.32%.

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.