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

Diamondback Energy, Inc. (NASDAQ:FANG) – Equities researchers at Seaport Res Ptn boosted their Q4 2024 earnings estimates for shares of Diamondback Energy in a note issued to investors on Thursday, May 23rd. Seaport Res Ptn analyst N. Pope now expects that the oil and natural gas company will post earnings per share of $5.38 for the quarter, up from their previous forecast 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.

FANG has been the subject of several other research reports. Scotiabank increased their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Evercore ISI increased their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Morgan Stanley lowered their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Royal Bank of Canada increased their price target on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, StockNews.com raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.95.

Diamondback Energy Stock Performance

FANG opened at $193.46 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The company has a market capitalization of $34.50 billion, a price-to-earnings ratio of 10.91 and a beta of 1.91. The business’s 50-day moving average price is $200.13 and its two-hundred day moving average price is $174.57. Diamondback Energy has a 1 year low of $123.41 and a 1 year high of $211.96.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The business 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%. Diamondback Energy’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.10 EPS.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Insider Activity

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

Institutional Trading of Diamondback Energy

Large investors have recently made changes to their positions in the company. Cetera Advisors LLC grew its position in Diamondback Energy by 345.2% during the 1st quarter. Cetera Advisors LLC now owns 13,963 shares of the oil and natural gas company’s stock worth $2,767,000 after acquiring an additional 10,827 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Diamondback Energy by 265.6% during the first quarter. Cetera Investment Advisers now owns 46,488 shares of the oil and natural gas company’s stock worth $9,213,000 after purchasing an additional 33,772 shares during the last quarter. Invst LLC acquired a new position in shares of Diamondback Energy in the first quarter valued at approximately $820,000. Second Line Capital LLC boosted its position in Diamondback Energy by 14.8% during the 1st quarter. Second Line Capital LLC now owns 13,179 shares of the oil and natural gas company’s stock worth $2,612,000 after buying an additional 1,697 shares during the period. Finally, Atria Investments Inc increased its position in Diamondback Energy by 118.8% in the 1st quarter. Atria Investments Inc now owns 29,845 shares of the oil and natural gas company’s stock valued at $5,914,000 after acquiring an additional 16,203 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.