Scotiabank Forecasts Reduced Earnings for Diamondback Energy

Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Scotiabank dropped their FY2026 EPS estimates for Diamondback Energy in a note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now forecasts that the oil and natural gas company will post earnings per share of $16.35 for the year, down from their previous estimate of $16.50. The consensus estimate for Diamondback Energy’s current full-year earnings is $15.49 per share.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%.

A number of other equities research analysts have also recently issued reports on the stock. Barclays dropped their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. UBS Group upped their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Truist Financial lifted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.92.

Diamondback Energy Stock Up 0.0 %

Diamondback Energy stock opened at $158.50 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market capitalization of $45.88 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The business has a 50 day simple moving average of $160.47 and a 200-day simple moving average of $170.51. Diamondback Energy has a 12 month low of $137.09 and a 12 month high of $214.50.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.52%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Insider Activity

In related news, Director Frank D. Tsuru purchased 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Diamondback Energy

A number of hedge funds have recently made changes to their positions in FANG. 111 Capital purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $248,000. Thoma Capital Management LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at $640,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Diamondback Energy by 145.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,162 shares of the oil and natural gas company’s stock valued at $6,416,000 after buying an additional 23,191 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Diamondback Energy by 6.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,758 shares of the oil and natural gas company’s stock valued at $288,000 after buying an additional 108 shares during the period. Finally, PKO Investment Management Joint Stock Co acquired a new position in Diamondback Energy during the 4th quarter worth about $901,000. Hedge funds and other institutional investors 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.