Zacks Research Issues Pessimistic Forecast for FANG Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Equities researchers at Zacks Research decreased their FY2024 earnings per share estimates for shares of Diamondback Energy in a report released on Monday, November 18th. Zacks Research analyst N. Choudhury now forecasts that the oil and natural gas company will post earnings of $15.53 per share for the year, down from their previous forecast of $16.53. The consensus estimate for Diamondback Energy’s current full-year earnings is $16.78 per share. Zacks Research also issued estimates for Diamondback Energy’s Q1 2025 earnings at $3.72 EPS, Q1 2026 earnings at $3.81 EPS, Q2 2026 earnings at $3.88 EPS, Q3 2026 earnings at $3.97 EPS and FY2026 earnings at $15.72 EPS.

Several other equities research analysts have also recently issued reports on FANG. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Susquehanna cut their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

Diamondback Energy Trading Down 1.0 %

Shares of NASDAQ:FANG opened at $180.12 on Wednesday. Diamondback Energy has a 1 year low of $145.70 and a 1 year high of $214.50. The stock’s fifty day moving average price is $181.39 and its 200-day moving average price is $191.07. The company has a market cap of $52.59 billion, a P/E ratio of 10.31, a PEG ratio of 1.26 and a beta of 1.89. 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 announced 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 analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.49 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. First Community Trust NA acquired a new position in Diamondback Energy in the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC raised its holdings in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy during the second quarter valued at $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Founders Capital Management boosted its stake in shares of Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after buying an additional 125 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value 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. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

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.