Diamondback Energy, Inc. (NASDAQ:FANG - Get Rating) - Equities researchers at Capital One Financial issued their Q1 2023 earnings per share (EPS) estimates for Diamondback Energy in a note issued to investors on Wednesday, June 22nd. Capital One Financial analyst B. Velie forecasts that the oil and natural gas company will post earnings of $5.70 per share for the quarter. The consensus estimate for Diamondback Energy's current full-year earnings is $26.16 per share.
A number of other research firms also recently commented on FANG. Barclays boosted their target price on Diamondback Energy from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 14th. StockNews.com began coverage on Diamondback Energy in a research note on Thursday, March 31st. They set a "buy" rating on the stock. Truist Financial upped their target price on Diamondback Energy from $170.00 to $200.00 in a research note on Thursday, April 21st. Raymond James increased their price objective on Diamondback Energy from $195.00 to $200.00 and gave the stock a "strong-buy" rating in a research note on Monday, April 25th. Finally, Piper Sandler increased their price objective on Diamondback Energy from $188.00 to $196.00 and gave the stock an "overweight" rating in a research note on Friday, June 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and an average target price of $167.35.
Shares of Diamondback Energy stock opened at $119.24 on Friday. The stock's 50-day simple moving average is $138.24 and its 200-day simple moving average is $130.45. Diamondback Energy has a 52 week low of $65.93 and a 52 week high of $162.24. The company has a market capitalization of $21.16 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.22 and a beta of 2.18. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. Diamondback Energy (NASDAQ:FANG - Get Rating) last released its earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.46. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $1.93 billion. Diamondback Energy had a return on equity of 19.91% and a net margin of 34.17%. During the same period in the previous year, the business earned $2.30 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 23rd. Stockholders of record on Thursday, May 12th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, May 11th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.60. Diamondback Energy's dividend payout ratio is currently 18.46%.
In related news, CAO Teresa L. Dick sold 2,500 shares of the firm's stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $152.22, for a total value of $380,550.00. Following the transaction, the chief accounting officer now directly owns 57,308 shares of the company's stock, valued at approximately $8,723,423.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Hof Matthew Kaes Van't sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $140.02, for a total transaction of $840,120.00. Following the completion of the transaction, the chief financial officer now directly owns 73,334 shares in the company, valued at $10,268,226.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,500 shares of company stock valued at $7,580,970. Company insiders own 0.47% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in FANG. State of Michigan Retirement System increased its holdings in Diamondback Energy by 15.2% in the 4th quarter. State of Michigan Retirement System now owns 49,262 shares of the oil and natural gas company's stock valued at $5,313,000 after purchasing an additional 6,500 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Diamondback Energy by 23.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 104,408 shares of the oil and natural gas company's stock worth $11,260,000 after acquiring an additional 19,526 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Diamondback Energy by 18.8% in the third quarter. Thrivent Financial for Lutherans now owns 166,898 shares of the oil and natural gas company's stock worth $15,799,000 after acquiring an additional 26,397 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth $333,000. Finally, LPL Financial LLC grew its stake in shares of Diamondback Energy by 6.9% in the fourth quarter. LPL Financial LLC now owns 54,927 shares of the oil and natural gas company's stock worth $5,924,000 after acquiring an additional 3,526 shares in the last quarter. 89.97% of the stock is currently owned by hedge funds and other institutional investors.
Diamondback Energy Company Profile (Get Rating)
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.
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