Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Stock analysts at Roth Capital upped their Q3 2024 earnings per share estimates for shares of Diamondback Energy in a research report issued to clients and investors on Wednesday, May 1st. Roth Capital analyst L. Mariani now anticipates that the oil and natural gas company will earn $4.84 per share for the quarter, up from their prior estimate of $4.83. The consensus estimate for Diamondback Energy's current full-year earnings is $18.94 per share. Roth Capital also issued estimates for Diamondback Energy's FY2024 earnings at $18.75 EPS, Q1 2025 earnings at $4.58 EPS, Q2 2025 earnings at $4.45 EPS, Q3 2025 earnings at $4.85 EPS, Q4 2025 earnings at $5.44 EPS and FY2025 earnings at $19.32 EPS.
Several other equities research analysts have also issued reports on the company. Barclays began coverage on Diamondback Energy in a research note on Wednesday, April 10th. They issued an "equal weight" rating and a $214.00 price objective for the company. KeyCorp lifted their price objective on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an "overweight" rating in a research note on Monday, April 22nd. Truist Financial raised their target price on shares of Diamondback Energy from $248.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, April 22nd. Mizuho upped their price target on shares of Diamondback Energy from $200.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, April 11th. Finally, UBS Group increased their price objective on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $202.53.
Get Our Latest Research Report on Diamondback Energy
Diamondback Energy Trading Up 0.8 %
Shares of NASDAQ:FANG traded up $1.62 during trading on Thursday, reaching $197.63. The company's stock had a trading volume of 1,899,097 shares, compared to its average volume of 1,743,736. The firm's 50 day simple moving average is $194.99 and its two-hundred day simple moving average is $170.58. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy has a 12 month low of $123.41 and a 12 month high of $211.96. The stock has a market capitalization of $35.25 billion, a PE ratio of 11.14 and a beta of 1.91.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.69%. Diamondback Energy's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.10 earnings per share.
Institutional Investors Weigh In On Diamondback Energy
Institutional investors have recently bought and sold shares of the company. Founders Capital Management boosted its position in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company's stock worth $25,000 after purchasing an additional 101 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $27,000. BluePath Capital Management LLC acquired a new position in shares of Diamondback Energy during the third quarter valued at about $28,000. Logan Capital Management Inc. purchased a new position in shares of Diamondback Energy in the 4th quarter valued at approximately $31,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Diamondback Energy in the 4th quarter worth approximately $34,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Diamondback Energy
In related news, COO Daniel N. Wesson sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the transaction, the chief operating officer now owns 78,218 shares of the company's stock, valued at $15,031,153.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares in the company, valued at $15,031,153.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now directly owns 96,523 shares of the company's stock, valued at $18,532,416. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,675 shares of company stock valued at $11,311,096. Company insiders own 0.43% of the company's stock.
Diamondback Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.82%. Diamondback Energy's dividend payout ratio is currently 20.29%.
About Diamondback Energy
(
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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.
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