Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Capital One Financial reduced their Q2 2024 earnings per share estimates for Diamondback Energy in a note issued to investors on Monday, May 13th. Capital One Financial analyst B. Velie now expects that the oil and natural gas company will earn $5.24 per share for the quarter, down from their previous estimate of $5.25. The consensus estimate for Diamondback Energy's current full-year earnings is $18.98 per share. Capital One Financial also issued estimates for Diamondback Energy's FY2025 earnings at $21.07 EPS.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts' consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm posted $4.10 EPS. The firm's quarterly revenue was up 15.7% on a year-over-year basis.
Several other research firms also recently issued reports on FANG. KeyCorp lifted their price target on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Monday, April 22nd. Truist Financial boosted their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, April 22nd. StockNews.com upgraded Diamondback Energy from a "hold" rating to a "buy" rating in a report on Thursday, May 2nd. Wells Fargo & Company decreased their price target on Diamondback Energy from $227.00 to $224.00 and set an "overweight" rating for the company in a report on Thursday, May 2nd. Finally, Mizuho raised their price objective on Diamondback Energy from $217.00 to $222.00 and gave the company a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of "Moderate Buy" and an average target price of $205.95.
Check Out Our Latest Analysis on Diamondback Energy
Diamondback Energy Trading Down 1.4 %
NASDAQ:FANG traded down $2.72 during mid-day trading on Tuesday, hitting $198.05. 1,474,612 shares of the company's stock were exchanged, compared to its average volume of 1,722,250. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a 50 day simple moving average of $198.22 and a 200-day simple moving average of $172.44. The firm has a market capitalization of $35.32 billion, a P/E ratio of 11.16 and a beta of 1.91.
Institutional Investors Weigh In On Diamondback Energy
Several hedge funds have recently made changes to their positions in FANG. Founders Capital Management grew its stake 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 buying an additional 101 shares during the last quarter. BKM Wealth Management LLC bought a new position in Diamondback Energy in the 4th quarter worth about $27,000. Logan Capital Management Inc. purchased a new stake in Diamondback Energy during the 4th quarter valued at about $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Diamondback Energy during the 4th quarter valued at about $34,000. Finally, CVA Family Office LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $35,000. 90.01% of the stock is currently owned by institutional investors.
Insider Activity
In related news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares of the company's stock, valued at $1,516,241.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares of the company's stock, valued at approximately $1,516,241.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,575 shares of company stock valued at $11,491,006. Insiders own 0.43% of the company's stock.
Diamondback Energy Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy's dividend payout ratio (DPR) is presently 20.29%.
About Diamondback Energy
(
Get Free Report)
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.
Featured Stories
Before you consider Diamondback Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Diamondback Energy wasn't on the list.
While Diamondback Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
