Capital One Financial Weighs in on FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Stock analysts at Capital One Financial decreased their FY2024 earnings per share (EPS) estimates for shares of Diamondback Energy in a report released on Tuesday, January 14th. Capital One Financial analyst B. Velie now anticipates that the oil and natural gas company will post earnings of $15.30 per share for the year, down from their previous estimate of $15.88. The consensus estimate for Diamondback Energy’s current full-year earnings is $16.08 per share. Capital One Financial also issued estimates for Diamondback Energy’s Q4 2024 earnings at $2.90 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 for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $5.49 EPS. The company’s revenue was up 13.0% on a year-over-year basis.

A number of other research analysts have also recently commented on FANG. Evercore ISI cut their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Raymond James lifted their target price on Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 19th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Scotiabank reduced their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $180.18 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $52.61 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.88. Diamondback Energy has a 12 month low of $147.93 and a 12 month high of $214.50. The firm’s 50-day moving average is $170.60 and its 200 day moving average is $183.24.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently added to or reduced their stakes in FANG. Carolinas Wealth Consulting LLC raised its position in shares of Diamondback Energy by 67.1% in the 2nd 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 during the last quarter. UMB Bank n.a. increased its stake in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy in the third quarter worth $42,000. CVA Family Office LLC lifted its stake in shares of Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 65 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds 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.