Capital One Financial Forecasts FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Capital One Financial raised their FY2024 earnings per share (EPS) estimates for shares of Diamondback Energy in a note issued to investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will post earnings per share of $15.88 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.

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 business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.49 EPS.

A number of other research analysts have also issued reports on the company. Scotiabank reduced their price target 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. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. began coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 target price on the stock. Finally, UBS Group lowered their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. One investment 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’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.83.

Diamondback Energy Trading Up 2.2 %

Shares of NASDAQ FANG opened at $174.77 on Monday. Diamondback Energy has a 12-month low of $147.93 and a 12-month high of $214.50. The company has a market cap of $51.03 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $170.76 and its 200 day simple moving average is $183.77.

Hedge Funds Weigh In On Diamondback Energy

A number of large investors have recently bought and sold shares of FANG. Carolinas Wealth Consulting LLC grew its stake in Diamondback Energy by 67.1% in 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 in the last quarter. Financial Advocates Investment Management raised its stake in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares in the last quarter. Brighton Jones LLC lifted its holdings in Diamondback Energy by 0.8% during the second quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock worth $1,566,000 after buying an additional 60 shares during the period. Greenup Street Wealth Management LLC increased its holdings in shares of Diamondback Energy by 3.4% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock valued at $313,000 after acquiring an additional 60 shares during the period. Finally, West Family Investments Inc. raised its position in shares of Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction 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 transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) 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.