Analysts Set Expectations for Diamondback Energy, Inc.’s FY2022 Earnings (NASDAQ:FANG)

Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) – Analysts at Capital One Financial dropped their FY2022 earnings per share (EPS) estimates for shares of Diamondback Energy in a research note issued to investors on Tuesday, May 10th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will post earnings per share of $21.73 for the year, down from their previous forecast of $22.32. Capital One Financial also issued estimates for Diamondback Energy’s FY2023 earnings at $18.43 EPS.

Diamondback Energy (NASDAQ:FANGGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.44. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. During the same quarter in the prior year, the company posted $2.30 earnings per share.

A number of other analysts also recently issued reports on FANG. TheStreet raised shares of Diamondback Energy from a “c+” rating to a “b” rating in a report on Tuesday, February 22nd. Bank of America downgraded shares of Diamondback Energy from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $165.00 to $170.00 in a research note on Tuesday, March 8th. Barclays boosted their price target on shares of Diamondback Energy from $127.00 to $162.00 in a research note on Friday, March 18th. TD Securities boosted their price target on shares of Diamondback Energy from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 23rd. Finally, Piper Sandler boosted their price target on shares of Diamondback Energy from $163.00 to $181.00 and gave the stock an “overweight” rating in a research note on Thursday, April 7th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $160.58.

NASDAQ FANG opened at $127.04 on Friday. Diamondback Energy has a 52-week low of $65.93 and a 52-week high of $147.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.69 and a current ratio of 0.72. The company has a market capitalization of $22.55 billion, a P/E ratio of 8.37, a P/E/G ratio of 0.24 and a beta of 2.20. The company has a fifty day moving average of $134.80 and a 200-day moving average of $123.72.

A number of hedge funds have recently modified their holdings of the stock. 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 purchasing an additional 607,766 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Diamondback Energy by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,428,928 shares of the oil and natural gas company’s stock worth $368,917,000 after acquiring an additional 96,622 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Diamondback Energy by 38.9% during the 4th 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 during the last quarter. Wellington Management Group LLP boosted its stake in shares of Diamondback Energy by 3.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,265,395 shares of the oil and natural gas company’s stock worth $309,135,000 after acquiring an additional 107,392 shares during the last quarter. Finally, JB Investments Management LLC boosted its stake in shares of Diamondback Energy by 1.8% during the 4th quarter. JB Investments Management LLC now owns 2,657,988 shares of the oil and natural gas company’s stock worth $286,664,000 after acquiring an additional 47,030 shares during the last quarter. Institutional investors own 89.97% of the company’s stock.

In related news, COO Daniel N. Wesson sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $134.95, for a total transaction of $472,325.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $140.03, for a total transaction of $350,075.00. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock valued at $3,319,960 in the last three months. 0.47% of the stock is owned by insiders.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 23rd. Investors of record on Thursday, May 12th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, May 11th. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.60. Diamondback Energy’s dividend payout ratio (DPR) is 15.82%.

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.

See Also

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

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