Zacks Research Expects Lower Earnings for Diamondback Energy

Diamondback Energy, Inc. (NASDAQ:FANG) – Zacks Research lowered their Q4 2024 earnings per share estimates for Diamondback Energy in a research note issued on Monday, November 18th. Zacks Research analyst N. Choudhury now expects that the oil and natural gas company will post earnings per share of $3.13 for the quarter, down from their prior estimate of $4.11. The consensus estimate for Diamondback Energy’s current full-year earnings is $16.37 per share. Zacks Research also issued estimates for Diamondback Energy’s Q2 2025 earnings at $3.46 EPS, Q3 2025 earnings at $3.25 EPS, Q4 2025 earnings at $4.10 EPS and FY2025 earnings at $14.53 EPS.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $5.49 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year.

FANG has been the topic of a number of other reports. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Truist Financial raised their price objective on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Evercore ISI decreased their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $212.00.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $181.46 on Thursday. Diamondback Energy has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $52.98 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.32 and a beta of 1.89. The company’s 50-day moving average price is $181.65 and its two-hundred day moving average price is $191.00.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. State Street Corp lifted its position in shares of Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Diamondback Energy by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares during the period. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after buying an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after buying an additional 415,902 shares during the period. Finally, Boston Partners grew its position in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Institutional investors 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.