Diamondback Energy, Inc. (NASDAQ: FANG – Get Rating) – Analysts at Capital One Financial raised their Q2 2022 EPS estimates for Diamondback Energy in a research note issued on Wednesday, June 22nd. Capital One Financial analyst B. Velie now expects that the oil and natural gas company will post earnings per share of $ 6.51 for the quarter, up from their prior estimate of $ 6.44. Diamondback Energy’s current full-year earnings per consensus estimate is $ 26.11 per share. Capital One Financial also issued estimates for Diamondback Energy’s Q3 2022 earnings at $ 7.08 EPS, Q4 2022 earnings at $ 7.19 EPS, FY2022 earnings at $ 25.98 EPS, Q2 2023 earnings at $ 5.68 EPS, Q3 2023 earnings at $ 5.79 EPS, Q4 2023 earnings at $ 5.93 EPS, FY2023 earnings at $ 23.10 EPS and FY2024 earnings at $ 21.09 EPS.
A number of other brokerages have also recently been issued reports on FANG. Scotiabank lifted their price objective on shares of Diamondback Energy from $ 165.00 to $ 170.00 and gave the company a “neutral” rating in a report on Wednesday, March 9th. Credit Suisse Group raised their price target on shares of Diamondback Energy from $ 138.00 to $ 140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 23rd. StockNews.com began coverage on shares of Diamondback Energy in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Royal Bank of Canada raised their price target on shares of Diamondback Energy from $ 150.00 to $ 160.00 in a research report on Thursday, February 24th. Finally, Raymond James raised their price target on shares of Diamondback Energy from $ 195.00 to $ 200.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $ 167.35.
Shares of NASDAQ FANG opened at $ 126.10 on Thursday. The stock has a market capitalization of $ 22.38 billion, a P / E ratio of 8.31, a P / E / G ratio of 0.23 and a beta of 2.18. The company has a 50-day moving average price of $ 138.62 and a 200-day moving average price of $ 130.37. Diamondback Energy has a 1 year low of $ 65.93 and a 1 year high of $ 162.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.72 and a quick ratio of 0.69. Diamondback Energy (NASDAQ: FANG – Get Rating) last released its quarterly earnings data on Monday, May 2nd. The oil and natural gas company reported $ 5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 4.74 by $ 0.46. The firm had revenue of $ 2.41 billion during the quarter, compared to analysts’ expectations of $ 1.93 billion. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. During the same period last year, the company earned $ 2.30 earnings per share.
Institutional investors have recently bought and sold shares of the stock. Carolinas Wealth Consulting LLC increased its holdings in Diamondback Energy by 366.7% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $ 31,000 after acquiring an additional 176 shares during the period. Cambridge Trust Co. Diamondback Energy increased its holdings by 1,991.7% during the 1st quarter. Cambridge Trust Co. now owns 251 shares of the oil and natural gas company’s stock worth $ 34,000 after acquiring an additional 239 shares during the period. Paragon Capital Management Ltd bought a new stake in Diamondback Energy during the 4th quarter worth approximately $ 28,000. MCF Advisors LLC bought a new stake in Diamondback Energy during the 1st quarter worth approximately $ 35,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Diamondback Energy in the 3rd quarter worth $ 26,000. 89.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $ 140.02, for a total value of $ 840,120.00. Following the sale, the chief financial officer now owns 73,334 shares of the company’s stock, valued at $ 10,268,226.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Teresa L. Dick sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $ 152.22, for a total transaction of $ 380,550.00. Following the completion of the sale, the chief accounting officer now directly owns 57,308 shares in the company, valued at approximately $ 8,723,423.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,500 shares of company stock worth $ 7,580,970. Insiders own 0.47% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Monday, May 23rd. Shareholders of record on Thursday, May 12th were given a $ 0.70 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $ 0.60. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $ 2.80 annualized dividend and a yield of 2.22%. Diamondback Energy’s payout ratio is currently 18.46%.
Diamondback Energy Company Profile (Get Rating)
Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploration 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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