Diamondback Energy, Inc. (NASDAQ:FANG) Expected to Post Q4 2022 Earnings of $5.35 Per Share

Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) – Equities researchers at Seaport Res Ptn reduced their Q4 2022 earnings per share (EPS) estimates for Diamondback Energy in a note issued to investors on Monday, January 23rd. Seaport Res Ptn analyst N. Pope now anticipates that the oil and natural gas company will earn $5.35 per share for the quarter, down from their previous estimate of $5.75. The consensus estimate for Diamondback Energy’s current full-year earnings is $24.39 per share. Seaport Res Ptn also issued estimates for Diamondback Energy’s Q2 2023 earnings at $5.24 EPS, Q3 2023 earnings at $5.23 EPS, Q4 2023 earnings at $5.09 EPS, Q2 2024 earnings at $5.01 EPS, Q3 2024 earnings at $4.99 EPS and Q4 2024 earnings at $4.88 EPS.

Diamondback Energy (NASDAQ:FANG – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.51 by ($0.03). The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.38 billion. Diamondback Energy had a return on equity of 28.49% and a net margin of 45.47%.

A number of other research firms have also weighed in on FANG. Johnson Rice upgraded Diamondback Energy from an “accumulate” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Monday, December 5th. Morgan Stanley dropped their target price on Diamondback Energy from $180.00 to $168.00 and set an “overweight” rating on the stock in a report on Tuesday. Susquehanna Bancshares raised their target price on Diamondback Energy from $180.00 to $190.00 in a report on Wednesday, November 9th. StockNews.com started coverage on Diamondback Energy in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Susquehanna raised their target price on Diamondback Energy from $180.00 to $190.00 in a report on Wednesday, November 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.90.

Diamondback Energy Stock Down 1.4 %

Shares of NASDAQ:FANG opened at $147.24 on Wednesday. Diamondback Energy has a 52-week low of $103.71 and a 52-week high of $168.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.58 and a current ratio of 0.61. The business’s 50 day simple moving average is $141.70 and its two-hundred day simple moving average is $136.96. The firm has a market cap of $25.91 billion, a P/E ratio of 6.00, a PEG ratio of 0.28 and a beta of 2.00.

Diamondback Energy Announces Dividend

The business also recently declared a None dividend, which was paid on Friday, November 25th. Stockholders of record on Thursday, November 17th were given a $2.26 dividend. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, November 16th. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.22%.

Insider Activity

In other news, VP Matt Zmigrosky sold 2,012 shares of Diamondback Energy stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $136.96, for a total value of $275,563.52. Following the completion of the transaction, the vice president now directly owns 23,623 shares in the company, valued at $3,235,406.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Several large investors have recently added to or reduced their stakes in FANG. Yacktman Asset Management LP bought a new stake in Diamondback Energy during the third quarter valued at $152,022,000. Pacer Advisors Inc. boosted its stake in Diamondback Energy by 33,853.6% during the third quarter. Pacer Advisors Inc. now owns 787,383 shares of the oil and natural gas company’s stock valued at $94,848,000 after buying an additional 785,064 shares during the period. FMR LLC boosted its stake in Diamondback Energy by 9.8% during the second quarter. FMR LLC now owns 8,686,863 shares of the oil and natural gas company’s stock valued at $1,052,413,000 after buying an additional 775,843 shares during the period. State Street Corp boosted its stake in Diamondback Energy by 7.0% during the third quarter. State Street Corp now owns 11,524,297 shares of the oil and natural gas company’s stock valued at $1,388,217,000 after buying an additional 755,625 shares during the period. Finally, Ninepoint Partners LP lifted its stake in Diamondback Energy by 636.7% during the third quarter. Ninepoint Partners LP now owns 725,000 shares of the oil and natural gas company’s stock worth $87,334,000 after purchasing an additional 626,594 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Diamondback Energy Company Profile

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Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.