Brokers Offer Predictions for FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Capital One Financial raised their FY2024 EPS estimates for shares of Diamondback Energy in a research report issued to clients and investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will earn $15.88 per share for the year, up from their prior forecast 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.

A number of other analysts also recently commented on the company. Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Raymond James lifted their target price on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 19th. Mizuho lowered their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Scotiabank cut their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.08.

Diamondback Energy Stock Performance

FANG opened at $177.68 on Monday. Diamondback Energy has a 1-year low of $147.93 and a 1-year high of $214.50. The stock has a market cap of $51.88 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.19 and a beta of 1.88. The stock’s 50 day simple moving average is $170.76 and its 200 day simple moving average is $183.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its 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 return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the company posted $5.49 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently bought and sold shares of the business. Lakewood Asset Management LLC lifted its holdings in shares of Diamondback Energy by 0.5% during the 4th 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 acquiring an additional 60 shares in the last quarter. Armstrong Advisory Group Inc. raised its position in Diamondback Energy by 14.7% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,270 shares of the oil and natural gas company’s stock valued at $208,000 after purchasing an additional 163 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Diamondback Energy by 34.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,866 shares of the oil and natural gas company’s stock worth $306,000 after purchasing an additional 473 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after buying an additional 1,042,505 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Diamondback Energy by 8.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,172 shares of the oil and natural gas company’s stock valued at $356,000 after buying an additional 167 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on 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 owns 4,712 shares of the company’s stock, valued at approximately $852,872. This 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 the SEC website. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. Diamondback Energy’s dividend payout ratio 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.