Zacks Research Analysts Decrease Earnings Estimates for FANG

Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of Diamondback Energy in a research note issued to investors on Wednesday, October 23rd. Zacks Research analyst N. Choudhury now forecasts that the oil and natural gas company will post earnings of $3.40 per share for the quarter, down from their previous forecast of $4.20. The consensus estimate for Diamondback Energy’s current full-year earnings is $19.08 per share. Zacks Research also issued estimates for Diamondback Energy’s Q4 2024 earnings at $4.11 EPS, FY2024 earnings at $16.53 EPS, Q1 2025 earnings at $3.80 EPS, Q2 2025 earnings at $4.10 EPS, Q3 2025 earnings at $6.16 EPS, Q4 2025 earnings at $3.39 EPS, FY2025 earnings at $17.45 EPS, Q1 2026 earnings at $4.04 EPS, Q2 2026 earnings at $4.13 EPS and FY2026 earnings at $16.55 EPS.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company posted $3.68 EPS. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis.

FANG has been the subject of several other research reports. Wolfe Research assumed coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. KeyCorp dropped their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Trading Down 0.1 %

Shares of FANG stock opened at $180.91 on Friday. The firm has a 50-day moving average price of $185.42 and a 200 day moving average price of $194.34. Diamondback Energy has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a market capitalization of $32.26 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.22 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC boosted its position in Diamondback Energy by 7.2% during the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after acquiring an additional 54 shares during the period. Carolinas Wealth Consulting LLC boosted its position in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Sugarloaf Wealth Management LLC boosted its position in Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after acquiring an additional 56 shares during the period. Versant Capital Management Inc boosted its position in Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after acquiring an additional 57 shares during the period. Finally, Confluence Investment Management LLC boosted its position in Diamondback Energy by 1.6% during the 2nd quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock worth $734,000 after acquiring an additional 58 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $2.34 per share. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. This is an increase from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

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.