Zacks Research Has Negative Outlook of FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Research analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday, January 27th. Zacks Research analyst N. Choudhury now anticipates that the oil and natural gas company will post earnings per share of $15.49 for the year, down from their prior estimate of $15.70. The consensus estimate for Diamondback Energy’s current full-year earnings is $15.58 per share. Zacks Research also issued estimates for Diamondback Energy’s Q4 2024 earnings at $3.09 EPS, Q1 2025 earnings at $3.73 EPS, Q2 2025 earnings at $3.26 EPS, Q4 2025 earnings at $2.79 EPS, FY2025 earnings at $13.50 EPS, Q1 2026 earnings at $3.39 EPS, Q2 2026 earnings at $3.33 EPS, Q3 2026 earnings at $3.46 EPS, Q4 2026 earnings at $3.33 EPS and FY2026 earnings at $13.50 EPS.

A number of other brokerages also recently weighed in on FANG. UBS Group dropped their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Mizuho reduced their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $205.00 to $215.00 in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $170.41 on Thursday. Diamondback Energy has a 12 month low of $147.93 and a 12 month high of $214.50. 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 stock has a market cap of $49.76 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The business has a fifty day simple moving average of $169.65 and a 200-day simple moving average of $181.40.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $5.49 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Insider Activity

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Diamondback Energy in the fourth quarter valued at about $29,000. UMB Bank n.a. raised its position in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares during the last quarter. Values First Advisors Inc. acquired a new position in Diamondback Energy during the 3rd quarter worth approximately $42,000. CVA Family Office LLC grew its stake in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at approximately $52,000. 90.01% of the stock is owned by institutional investors.

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.