Zacks Research Issues Pessimistic Estimate for FANG Earnings

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Equities research analysts at Zacks Research cut their FY2024 earnings per share estimates for shares of Diamondback Energy in a report released on Monday, January 27th. Zacks Research analyst N. Choudhury now anticipates that the oil and natural gas company will earn $15.49 per share for the year, down from their prior forecast of $15.70. The consensus estimate for Diamondback Energy's current full-year earnings is $15.58 per share. Zacks Research also issued estimates for Diamondback Energy's Q4 2024 earnings at $3.09 EPS, Q1 2025 earnings at $3.73 EPS, Q2 2025 earnings at $3.26 EPS, Q4 2025 earnings at $2.79 EPS, FY2025 earnings at $13.50 EPS, Q1 2026 earnings at $3.39 EPS, Q2 2026 earnings at $3.33 EPS, Q3 2026 earnings at $3.46 EPS, Q4 2026 earnings at $3.33 EPS and FY2026 earnings at $13.50 EPS.

Several other analysts also recently weighed in on FANG. Piper Sandler cut their target price on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. BMO Capital Markets upgraded shares of Diamondback Energy from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. Susquehanna reduced their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a "positive" rating for the company in a report on Friday, October 18th. Wolfe Research raised shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price on the stock in a research note on Friday, January 3rd. Finally, Wells Fargo & Company upped their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.

Diamondback Energy Stock Performance

Shares of FANG traded down $0.47 during mid-day trading on Thursday, reaching $170.39. 898,102 shares of the company's stock traded hands, compared to its average volume of 1,853,112. 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 business's 50-day moving average price is $169.65 and its 200-day moving average price is $181.40. The stock has a market capitalization of $49.75 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. Diamondback Energy has a 12 month low of $147.93 and a 12 month high of $214.50.

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

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.11%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company's stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Franklin Resources Inc. increased its position in Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock worth $28,008,000 after acquiring an additional 47,951 shares during the period. Benjamin Edwards Inc. raised its position in shares of Diamondback Energy by 368.1% during the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company's stock valued at $1,687,000 after buying an additional 7,694 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Diamondback Energy in the fourth quarter valued at about $1,053,000. Geode Capital Management LLC grew its position in Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock worth $793,611,000 after buying an additional 266,299 shares in the last quarter. Finally, Atria Investments Inc raised its holdings in Diamondback Energy by 18.5% in the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company's stock valued at $7,358,000 after acquiring an additional 6,672 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.