Capital One Financial Equities Analysts Increase Earnings Estimates for Diamondback Energy, Inc. (NASDAQ:FANG)

Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) – Investment analysts at Capital One Financial raised their FY2022 earnings per share (EPS) estimates for Diamondback Energy in a research note issued to investors on Wednesday, May 4th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will post earnings of $22.32 per share for the year, up from their previous forecast of $22.06.

Diamondback Energy (NASDAQ:FANGGet Rating) last released its quarterly earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.44. Diamondback Energy had a return on equity of 20.44% and a net margin of 34.17%. During the same period in the previous year, the company posted $2.30 EPS.

A number of other equities analysts have also recently weighed in on the company. StockNews.com initiated coverage on Diamondback Energy in a report on Thursday, March 31st. They set a “buy” rating on the stock. Royal Bank of Canada raised their price objective on Diamondback Energy from $150.00 to $160.00 in a report on Thursday, February 24th. Susquehanna raised their price objective on Diamondback Energy from $152.00 to $167.00 and gave the company a “positive” rating in a report on Monday, April 25th. Credit Suisse Group raised their price objective on Diamondback Energy from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 23rd. Finally, Truist Financial raised their price objective on Diamondback Energy from $170.00 to $200.00 in a report on Thursday, April 21st. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average target price of $160.58.

Shares of NASDAQ FANG opened at $142.49 on Thursday. The stock has a market cap of $25.30 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 0.24 and a beta of 2.20. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.50. Diamondback Energy has a 1-year low of $65.93 and a 1-year high of $147.99. The stock’s 50-day moving average is $135.28 and its 200 day moving average is $122.79.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 23rd. Stockholders of record on Thursday, May 12th will be given a $0.70 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, May 11th. Diamondback Energy’s dividend payout ratio (DPR) is currently 15.82%.

In related news, VP Thomas F. Hawkins sold 8,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $137.68, for a total transaction of $1,101,440.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Teresa L. Dick sold 2,500 shares of Diamondback Energy stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $140.03, for a total value of $350,075.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,000 shares of company stock worth $3,319,960. Corporate insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FANG. Voya Investment Management LLC boosted its position in shares of Diamondback Energy by 136.9% during the third quarter. Voya Investment Management LLC now owns 2,213,030 shares of the oil and natural gas company’s stock valued at $209,508,000 after purchasing an additional 1,279,031 shares in the last quarter. Invesco Ltd. boosted its holdings in Diamondback Energy by 38.9% in the fourth quarter. Invesco Ltd. now owns 3,311,337 shares of the oil and natural gas company’s stock worth $357,129,000 after acquiring an additional 927,878 shares in the last quarter. THRC Management LLC bought a new stake in Diamondback Energy in the fourth quarter worth $86,532,000. State Street Corp boosted its holdings in Diamondback Energy by 5.8% in the fourth quarter. State Street Corp now owns 11,173,356 shares of the oil and natural gas company’s stock worth $1,205,046,000 after acquiring an additional 607,766 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Diamondback Energy by 990.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 505,677 shares of the oil and natural gas company’s stock worth $54,537,000 after acquiring an additional 459,318 shares in the last quarter. Institutional investors own 89.97% of the company’s stock.

Diamondback Energy Company Profile (Get Rating)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.

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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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