Capital One Financial Comments on FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Capital One Financial lowered their FY2024 earnings per share estimates for Diamondback Energy in a research note issued to investors on Monday, November 11th. Capital One Financial analyst B. Velie now expects that the oil and natural gas company will earn $15.83 per share for the year, down from their prior forecast of $17.80. The consensus estimate for Diamondback Energy’s current full-year earnings is $17.00 per share. Capital One Financial also issued estimates for Diamondback Energy’s Q4 2024 earnings at $3.43 EPS, Q1 2025 earnings at $3.01 EPS, Q2 2025 earnings at $3.03 EPS, Q3 2025 earnings at $3.09 EPS, Q4 2025 earnings at $3.16 EPS, FY2025 earnings at $12.28 EPS and FY2026 earnings at $12.99 EPS.

Several other analysts have also commented on FANG. Evercore ISI dropped their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. UBS Group dropped their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $205.00 to $215.00 in a report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Wednesday, November 6th. Finally, Susquehanna cut their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $209.64.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $182.42 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy has a 52 week low of $145.70 and a 52 week high of $214.50. The stock’s 50-day moving average price is $181.26 and its 200-day moving average price is $191.70. The stock has a market capitalization of $53.26 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.49 EPS.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s payout ratio is presently 20.61%.

Insider Activity at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s 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 directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. First Community Trust NA acquired a new position in Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC grew its holdings in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy during the 2nd quarter worth approximately $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter worth approximately $42,000. Finally, Founders Capital Management boosted its position in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 125 shares during the period. 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.