Scotiabank Lifts Earnings Estimates for Diamondback Energy

Diamondback Energy, Inc. (NASDAQ:FANG) – Equities researchers at Scotiabank lifted their FY2025 earnings per share estimates for shares of Diamondback Energy in a research note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now anticipates 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.

FANG has been the subject of a number of other reports. Mizuho upped their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. Barclays dropped their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Finally, Truist Financial upped their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.92.

Diamondback Energy Trading Up 0.4 %

Shares of FANG stock opened at $161.60 on Monday. Diamondback Energy has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The firm’s 50 day moving average price is $159.82 and its two-hundred day moving average price is $170.00. The stock has a market cap of $46.77 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data 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. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Diamondback Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wintrust Investments LLC acquired a new position in Diamondback Energy during the 4th quarter valued at approximately $28,000. R Squared Ltd bought a new stake in Diamondback Energy in the fourth quarter valued at $29,000. UMB Bank n.a. boosted its holdings in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth about $33,000. Finally, Key Financial Inc increased its holdings in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.