Roth Capital Analysts Lift Earnings Estimates for Diamondback Energy, Inc. (NASDAQ:FANG)

Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Roth Capital boosted their Q3 2024 EPS estimates for Diamondback Energy in a report issued on Wednesday, May 1st. Roth Capital analyst L. Mariani now anticipates that the oil and natural gas company will earn $4.84 per share for the quarter, up from their previous estimate of $4.83. The consensus estimate for Diamondback Energy’s current full-year earnings is $18.94 per share. Roth Capital also issued estimates for Diamondback Energy’s FY2024 earnings at $18.75 EPS, Q1 2025 earnings at $4.58 EPS, Q2 2025 earnings at $4.45 EPS, Q3 2025 earnings at $4.85 EPS, Q4 2025 earnings at $5.44 EPS and FY2025 earnings at $19.32 EPS.

A number of other research analysts have also recently issued reports on FANG. Piper Sandler raised their price objective on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Scotiabank raised their price objective on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. UBS Group increased their target price on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. BMO Capital Markets increased their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a report on Tuesday, February 13th. Finally, Evercore ISI increased their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy Stock Down 2.5 %

Shares of NASDAQ:FANG opened at $196.01 on Thursday. The stock’s 50-day moving average price is $194.57 and its 200-day moving average price is $170.39. Diamondback Energy has a 12-month low of $123.41 and a 12-month high of $211.96. The stock has a market capitalization of $34.96 billion, a P/E ratio of 11.05 and a beta of 1.91. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a return on equity of 19.69% and a net margin of 36.71%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.10 earnings per share.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently added to or reduced their stakes in FANG. Founders Capital Management grew its position in shares of Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares during the period. BKM Wealth Management LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at about $27,000. BluePath Capital Management LLC bought a new position in shares of Diamondback Energy during the 3rd quarter valued at about $28,000. Logan Capital Management Inc. bought a new position in shares of Diamondback Energy during the 4th quarter valued at about $31,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at about $34,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the business’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 sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Daniel N. Wesson sold 6,000 shares of the business’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 sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.84%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

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.