Q2 2024 EPS Estimates for Diamondback Energy, Inc. (NASDAQ:FANG) Lowered by Roth Capital

Diamondback Energy, Inc. (NASDAQ:FANG) – Analysts at Roth Capital decreased their Q2 2024 earnings per share estimates for Diamondback Energy in a research report issued on Wednesday, May 1st. Roth Capital analyst L. Mariani now forecasts that the oil and natural gas company will post earnings per share of $4.63 for the quarter, down from their prior forecast of $4.64. The consensus estimate for Diamondback Energy’s current full-year earnings is $18.96 per share. Roth Capital also issued estimates for Diamondback Energy’s Q4 2024 earnings at $4.74 EPS.

A number of other analysts have also issued reports on the company. Stifel Nicolaus boosted their price objective on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Susquehanna upped their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Bank Of America (Bofa) cut their price target on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a report on Thursday, January 18th. Raymond James lowered their price objective on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, StockNews.com upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $204.37.

Diamondback Energy Stock Up 2.0 %

Diamondback Energy stock opened at $201.50 on Friday. The firm has a 50 day simple moving average of $194.99 and a 200 day simple moving average of $170.58. The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 0.37. Diamondback Energy has a 1-year low of $123.41 and a 1-year high of $211.96. The firm has a market capitalization of $35.94 billion, a price-to-earnings ratio of 11.36 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating 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 firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the firm earned $4.10 EPS. The company’s revenue was up 15.7% compared to the same quarter last year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is 20.29%.

Insider Activity

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction 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 directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,675 shares of company stock worth $11,311,096. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Large investors have recently bought and sold shares of the business. CWM LLC raised its holdings in shares of Diamondback Energy by 1.8% during the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after purchasing an additional 354 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after buying an additional 7,102 shares during the period. Larson Financial Group LLC boosted its stake in shares of Diamondback Energy by 748.0% in the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after buying an additional 13,426 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Diamondback Energy by 613.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after acquiring an additional 13,243 shares during the period. Finally, Raymond James & Associates increased its position in Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

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.