What is Zacks Research’s Estimate for FANG FY2024 Earnings?

Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Diamondback Energy in a note issued to investors on Monday, November 18th. Zacks Research analyst N. Choudhury now forecasts that the oil and natural gas company will earn $15.53 per share for the year, down from their previous forecast of $16.53. The consensus estimate for Diamondback Energy’s current full-year earnings is $16.78 per share. Zacks Research also issued estimates for Diamondback Energy’s Q1 2025 earnings at $3.72 EPS, Q1 2026 earnings at $3.81 EPS, Q2 2026 earnings at $3.88 EPS, Q3 2026 earnings at $3.97 EPS and FY2026 earnings at $15.72 EPS.

Other equities analysts have also recently issued reports about the company. Piper Sandler raised their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price target for the company from $205.00 to $215.00 in a report on Friday, October 4th. Finally, StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $212.00.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $181.46 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $52.98 billion, a P/E ratio of 10.39, a PEG ratio of 1.26 and a beta of 1.89. The stock’s 50 day moving average is $181.65 and its 200 day moving average is $191.00. Diamondback Energy has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the firm posted $5.49 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Activity

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

Institutional Trading of Diamondback Energy

A number of institutional investors have recently added to or reduced their stakes in the business. First Community Trust NA acquired a new position 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% 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 buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at approximately $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter valued at $42,000. Finally, Founders Capital Management lifted its holdings in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.