Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) – Equity analysts at Seaport Res Ptn lowered their Q4 2022 EPS estimates for shares of Diamondback Energy in a research note published on Monday, January 23. Seaport Res Ptn analyst N. Pope now expects the oil and natural gas company to earn $5.35 per share for the quarter, down from its previous guidance of $5.75. The consensus estimate for Diamondback Energy’s current full-year earnings is $24.39 per share. Seaport Res Ptn also provided estimates for Diamondback Energy’s second quarter 2023 earnings of $5.24 per share, Q3 2023 of $5.23 per share, Q4 2023 of $5.09 per share, Q2 2024 of $5.09 per share $5.01 per share from Q3 2024 from $4.99 per share and from $4.88 per share from Q4 2024 onwards.
A number of other equity research analysts have also commented on FANG. TD Securities raised its target price on Diamondback Energy shares to $185.00 from $170.00 and gave the company a “buy” rating in a report Tuesday, November 8th. Wells Fargo & Company took over coverage of Diamondback Energy shares in a report Tuesday. They issued an “overweight” rating and a price target of $181.00 on the stock. Barclays cut its target price on shares of Diamondback Energy from $173.00 to $166.00 and rated the stock as “overweight” in a research note on Monday. StockNews.com reported on Diamondback Energy shares in a research note on Wednesday, October 12. You give the stock a “hold” rating. Finally, Morgan Stanley lowered its target price on shares of Diamondback Energy from $180.00 to $168.00 and rated the stock an “overweight” in a research note on Tuesday. One analyst has rated the stock with a sell rating, three with a hold rating, fifteen with a buy rating and one with a strong buy rating. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.38.
Price history of Diamondback Energy
FANG shares opened at $147.08 on Wednesday. Diamondback Energy has a 12-month low of $103.71 and a 12-month high of $168.95. The company’s 50-day simple moving average is $141.46 and its 200-day simple moving average is $137.03. The company has a market cap of $25.89 billion, a price-to-earnings ratio of 5.99, a PEG ratio of 0.28 and a beta of 2.00. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt to equity ratio of 0.37.
Diamondback Energy (NASDAQ:FANG – Get Rating) last reported its quarterly earnings data on Monday, November 7th. The oil and natural gas company reported $6.48 EPS for the quarter, missing analyst consensus estimates of $6.51 ($0.03). Diamondback Energy had a net margin of 45.47% and a return on equity of 28.49%. The company made $2.44 billion in revenue for the quarter, compared to analysts’ expectations of $2.38 billion.
Diamondback Energy Dividend Announcement
The company also recently announced a none-dividend, which was paid on Friday, November 25th. Shareholders of record were paid a dividend of $2.26 on Thursday, November 17th. This corresponds to a dividend yield of 4.7%. The ex-dividend date was Wednesday November 16th. Diamondback Energy’s RTP is 12.22%.
In other news, VP Matt Zmigrosky sold 2,012 shares of Diamondback Energy in a transaction on Wednesday, December 21st. The shares sold at an average price of $136.96 for a total value of $275,563.52. Following the sale, the Vice President now owns 23,623 shares of the company, valued at $3,235,406.08. The sale was disclosed in a legal filing with the SEC, which can be accessed at this hyperlink. Insiders own 0.42% of the company’s shares.
Institutional trading in Diamondback Energy
Several hedge funds and other institutional investors have recently changed their positions in the company. Armstrong Advisory Group Inc. acquired a new interest in Diamondback Energy for approximately $25,000 during the fourth quarter. Carolinas Wealth Consulting LLC increased its stake in Diamondback Energy by 366.7% during the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the $31,000 oil and natural gas company after buying another 176 shares last quarter. Adirondack Trust Co. increased its stake in Diamondback Energy by 275.0% in the third quarter. Adirondack Trust Co. now owns 225 shares of the oil and natural gas company, valued at $27,000, after buying another 165 shares last quarter. Private Trust Co. NA acquired a new interest in Diamondback Energy valued at approximately $28,000 during the second quarter. Finally, SOA Wealth Advisors LLC. increased its stake in Diamondback Energy by 72.1% in the third quarter. SOA Wealth Advisors LLC. now owns 241 shares of the $29,000 oil and natural gas company after buying another 101 shares last quarter. Hedge funds and other institutional investors own 89.76% of the company’s shares.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, is focused on the acquisition, development, exploration and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin of 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 of west Texas and New Mexico.
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