Zacks Research Has Optimistic Outlook of FANG Q3 Earnings

Diamondback Energy, Inc. (NASDAQ:FANG) – Investment analysts at Zacks Research increased their Q3 2027 EPS estimates for shares of Diamondback Energy in a research note issued on Monday, September 29th. Zacks Research analyst Team now expects that the oil and natural gas company will post earnings of $2.97 per share for the quarter, up from their prior forecast of $2.96. The consensus estimate for Diamondback Energy’s current full-year earnings is $15.49 per share.

Several other research analysts also recently weighed in on FANG. Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Susquehanna dropped their price objective on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on Diamondback Energy from $210.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, Raymond James Financial dropped their price target on Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $193.39.

Diamondback Energy Stock Performance

FANG opened at $143.19 on Thursday. The firm has a market cap of $41.45 billion, a P/E ratio of 10.18 and a beta of 1.04. Diamondback Energy has a 1-year low of $114.00 and a 1-year high of $200.47. The company has a 50 day simple moving average of $142.80 and a two-hundred day simple moving average of $141.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.52 EPS.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy’s dividend payout ratio (DPR) is presently 28.43%.

Insider Activity at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Diamondback Energy

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Diamondback Energy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock worth $3,204,894,000 after acquiring an additional 388,512 shares during the last quarter. Boston Partners increased its position in Diamondback Energy by 2.8% during the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after purchasing an additional 151,150 shares during the period. Geode Capital Management LLC increased its holdings in shares of Diamondback Energy by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after acquiring an additional 142,649 shares during the period. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 9.0% in the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after purchasing an additional 384,971 shares during the last quarter. Finally, Demars Financial Group LLC grew its stake in Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock worth $655,953,000 after buying an additional 208,200 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

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.