Roth Capital Analysts Reduce Earnings Estimates for FANG

Diamondback Energy, Inc. (NASDAQ:FANG) – Equities researchers at Roth Capital cut their Q4 2024 earnings estimates for Diamondback Energy in a report released on Tuesday, November 5th. Roth Capital analyst L. Mariani now expects that the oil and natural gas company will post earnings per share of $3.33 for the quarter, down from their previous forecast of $4.46. The consensus estimate for Diamondback Energy’s current full-year earnings is $17.10 per share. Roth Capital also issued estimates for Diamondback Energy’s Q1 2025 earnings at $3.30 EPS, Q2 2025 earnings at $3.14 EPS, Q3 2025 earnings at $3.54 EPS, Q4 2025 earnings at $3.96 EPS and FY2025 earnings at $13.94 EPS.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business posted $5.49 EPS. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year.

A number of other brokerages have also issued reports on FANG. KeyCorp reduced their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. UBS Group cut their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target for the company. Finally, Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy Trading Down 1.1 %

NASDAQ FANG opened at $181.59 on Thursday. Diamondback Energy has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a fifty day simple moving average of $182.34 and a two-hundred day simple moving average of $192.55. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock has a market cap of $53.52 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.26 and a beta of 1.89.

Institutional Investors Weigh In On Diamondback Energy

A number of hedge funds have recently modified their holdings of the business. First Community Trust NA purchased a new stake in Diamondback Energy during the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC boosted its holdings in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the second quarter valued at approximately $40,000. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy in the third quarter valued at approximately $42,000. Finally, Founders Capital Management lifted its position in Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after buying an additional 125 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’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 transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

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.