Scotiabank Has Positive Outlook for FANG FY2025 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Research analysts at Scotiabank upped their FY2025 EPS estimates for shares of Diamondback Energy in a research report issued on Wednesday, March 19th. Scotiabank analyst P. Cheng now expects that the oil and natural gas company will post earnings per share of $15.40 for the year, up from their previous estimate of $15.20. The consensus estimate for Diamondback Energy’s current full-year earnings is $15.49 per share.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion.

Several other research firms have also recently commented on FANG. Wells Fargo & Company dropped their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Morgan Stanley lifted their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Piper Sandler dropped their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Raymond James dropped their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.92.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $158.50 on Monday. Diamondback Energy has a 52 week low of $137.09 and a 52 week high of $214.50. The company’s 50 day moving average price is $160.47 and its two-hundred day moving average price is $170.29. 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 stock has a market cap of $45.88 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is currently 25.32%.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. 111 Capital purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $248,000. Thoma Capital Management LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $640,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Diamondback Energy by 145.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,162 shares of the oil and natural gas company’s stock valued at $6,416,000 after purchasing an additional 23,191 shares in the last quarter. NorthCrest Asset Manangement LLC grew its position in Diamondback Energy by 6.5% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,758 shares of the oil and natural gas company’s stock worth $288,000 after acquiring an additional 108 shares in the last quarter. Finally, PKO Investment Management Joint Stock Co purchased a new position in Diamondback Energy in the fourth quarter worth $901,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.