Zacks Research Expects Lower Earnings for Diamondback Energy

Diamondback Energy, Inc. (NASDAQ:FANG) – Equities researchers at Zacks Research dropped their Q4 2024 EPS estimates for Diamondback Energy in a note issued to investors on Monday, November 18th. Zacks Research analyst N. Choudhury now expects that the oil and natural gas company will post earnings per share of $3.13 for the quarter, down from their previous forecast of $4.11. The consensus estimate for Diamondback Energy’s current full-year earnings is $16.37 per share. Zacks Research also issued estimates for Diamondback Energy’s Q2 2025 earnings at $3.46 EPS, Q3 2025 earnings at $3.25 EPS, Q4 2025 earnings at $4.10 EPS and FY2025 earnings at $14.53 EPS.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.49 earnings per share.

Several other research firms have also recently issued reports on FANG. Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Scotiabank dropped their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler lifted their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Evercore ISI dropped their price target on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, KeyCorp lowered their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $182.92 on Thursday. The firm has a 50-day simple moving average of $181.89 and a 200-day simple moving average of $190.94. The stock has a market capitalization of $53.41 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.89. 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.

Institutional Trading of Diamondback Energy

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Diamondback Energy during the third quarter valued at approximately $1,215,000. Unigestion Holding SA acquired a new stake in shares of Diamondback Energy during the third quarter worth approximately $303,000. Second Line Capital LLC grew its position in shares of Diamondback Energy by 1.4% during the third quarter. Second Line Capital LLC now owns 13,668 shares of the oil and natural gas company’s stock worth $2,356,000 after buying an additional 184 shares in the last quarter. Soltis Investment Advisors LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth approximately $4,680,000. Finally, TD Private Client Wealth LLC grew its position in shares of Diamondback Energy by 10.4% during the third quarter. TD Private Client Wealth LLC now owns 6,131 shares of the oil and natural gas company’s stock worth $1,057,000 after buying an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Diamondback Energy Company Profile

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.