Zacks Research Has Negative Outlook for FANG FY2024 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Equities research analysts at Zacks Research cut their FY2024 EPS estimates for shares of Diamondback Energy in a research report issued to clients and investors on Monday, January 27th. Zacks Research analyst N. Choudhury now expects that the oil and natural gas company will post earnings of $15.49 per share for the year, down from their previous estimate of $15.70. The consensus estimate for Diamondback Energy’s current full-year earnings is $15.58 per share. Zacks Research also issued estimates for Diamondback Energy’s Q4 2024 earnings at $3.09 EPS, Q1 2025 earnings at $3.73 EPS, Q2 2025 earnings at $3.26 EPS, Q4 2025 earnings at $2.79 EPS, FY2025 earnings at $13.50 EPS, Q1 2026 earnings at $3.39 EPS, Q2 2026 earnings at $3.33 EPS, Q3 2026 earnings at $3.46 EPS, Q4 2026 earnings at $3.33 EPS and FY2026 earnings at $13.50 EPS.

Several other analysts have also recently commented on the company. Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. KeyCorp cut their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Susquehanna cut their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Finally, Mizuho dropped their price objective on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Four research analysts have rated the stock with 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Price Performance

FANG stock opened at $170.41 on Thursday. The stock has a market capitalization of $49.76 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The stock’s fifty day simple moving average is $169.65 and its 200-day simple moving average is $181.40. Diamondback Energy has a 52-week low of $147.93 and a 52-week high of $214.50. 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 (NASDAQ:FANG) last announced 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 firm 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 quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.49 EPS.

Institutional Trading of Diamondback Energy

Several large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its stake in shares of Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after purchasing an additional 1,042,505 shares in the last quarter. Zimmer Partners LP bought a new position in Diamondback Energy in the 3rd quarter valued at about $87,924,000. Holocene Advisors LP increased its stake in Diamondback Energy by 95.3% during the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after buying an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after buying an additional 439,579 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Diamondback Energy by 17,151.2% in the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after acquiring an additional 338,050 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, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’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 sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 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.