Q3 2024 Earnings Estimate for Diamondback Energy, Inc. Issued By Roth Capital (NASDAQ:FANG)

Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Roth Capital decreased their Q3 2024 EPS estimates for Diamondback Energy in a report released on Tuesday, August 6th. Roth Capital analyst L. Mariani now expects that the oil and natural gas company will post earnings per share of $4.79 for the quarter, down from their previous forecast of $4.84. The consensus estimate for Diamondback Energy’s current full-year earnings is $18.63 per share. Roth Capital also issued estimates for Diamondback Energy’s FY2024 earnings at $18.33 EPS, Q1 2025 earnings at $4.62 EPS, Q2 2025 earnings at $4.52 EPS, Q3 2025 earnings at $4.90 EPS, Q4 2025 earnings at $5.45 EPS and FY2025 earnings at $19.47 EPS.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 EPS. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year.

Several other equities research analysts have also recently weighed in on FANG. Susquehanna upped their price target on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Mizuho increased their target price on shares of Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Royal Bank of Canada raised their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Sanford C. Bernstein decreased their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Piper Sandler increased their price objective on Diamondback Energy from $247.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $210.00.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $2.28 during midday trading on Thursday, reaching $199.77. 1,289,255 shares of the company traded hands, compared to its average volume of 1,572,757. The firm’s fifty day moving average price is $197.86 and its two-hundred day moving average price is $191.12. The firm has a market capitalization of $35.63 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.06 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Diamondback Energy has a 12 month low of $143.08 and a 12 month high of $214.50.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be paid a dividend of $2.34 per share. This is an increase from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend is Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Insider Activity

In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the sale, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Founders Capital Management raised its stake in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. First Community Trust NA bought a new position in Diamondback Energy during the 2nd quarter valued at about $26,000. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the fourth quarter worth approximately $34,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the second quarter valued at approximately $40,000. 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.