Capital One Financial Forecasts FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Equities research analysts at Capital One Financial dropped their FY2024 earnings per share estimates for shares of Diamondback Energy in a research note issued on Monday, November 11th. Capital One Financial analyst B. Velie now anticipates that the oil and natural gas company will earn $15.83 per share for the year, down from their previous forecast of $17.80. The consensus estimate for Diamondback Energy’s current full-year earnings is $17.00 per share. Capital One Financial also issued estimates for Diamondback Energy’s Q4 2024 earnings at $3.43 EPS, Q1 2025 earnings at $3.01 EPS, Q2 2025 earnings at $3.03 EPS, Q3 2025 earnings at $3.09 EPS, Q4 2025 earnings at $3.16 EPS, FY2025 earnings at $12.28 EPS and FY2026 earnings at $12.99 EPS.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business 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%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.49 EPS.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley increased their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. UBS Group reduced their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their target price for the company from $205.00 to $215.00 in a research note on Friday, October 4th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Sanford C. Bernstein dropped their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy Trading Up 1.3 %

FANG stock opened at $182.24 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $181.30 and its two-hundred day simple moving average is $191.76. Diamondback Energy has a twelve month low of $145.70 and a twelve month high of $214.50. The stock has a market capitalization of $53.21 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s payout ratio is presently 20.61%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

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

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.