Diamondback Energy, Inc. (NASDAQ:FANG) to Post Q4 2024 Earnings of $5.38 Per Share, Seaport Res Ptn Forecasts

Diamondback Energy, Inc. (NASDAQ:FANG) – Seaport Res Ptn boosted their Q4 2024 earnings per share (EPS) estimates for Diamondback Energy in a research note issued on Thursday, May 23rd. Seaport Res Ptn analyst N. Pope now forecasts that the oil and natural gas company will post earnings of $5.38 per share for the quarter, up from their prior estimate of $5.34. The consensus estimate for Diamondback Energy’s current full-year earnings is $19.01 per share. Seaport Res Ptn also issued estimates for Diamondback Energy’s Q1 2025 earnings at $5.08 EPS, Q2 2025 earnings at $4.90 EPS, Q3 2025 earnings at $4.94 EPS, Q4 2025 earnings at $5.01 EPS and FY2025 earnings at $19.93 EPS.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.10 earnings per share.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler boosted their price objective on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. KeyCorp upped their price objective on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Mizuho upped their target price on Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a report on Monday, May 13th. UBS Group upped their target price on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada increased their price objective on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.95.

Diamondback Energy Price Performance

FANG stock opened at $191.96 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Diamondback Energy has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The business has a 50 day moving average price of $200.06 and a 200 day moving average price of $174.22. The stock has a market cap of $34.23 billion, a price-to-earnings ratio of 10.82 and a beta of 1.91.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.88%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Insider Buying and Selling

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,575 shares of company stock worth $11,491,006. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Diamondback Energy

Large investors have recently modified their holdings of the stock. Founders Capital Management grew its stake in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at about $27,000. Logan Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at about $31,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at about $34,000. Finally, CVA Family Office LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.