Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) saw a decrease in projected earnings for FY2024. Capital One Financial lowered their estimate from $18.05 to $17.80 per share, while the consensus is $19.08. They also forecast Q1 2025 earnings at $3.86 EPS.
Other analysts have revised their ratings: KeyCorp reduced its target price from $225 to $216; Scotiabank cut theirs from $245 to $225; and BMO upgraded Diamondback from “market perform” to “outperform,” raising the target from $205 to $215. StockNews.com moved from “buy” to “hold,” and Sanford C. Bernstein lowered its target from $243 to $236. The stock has one sell rating, five holds, seventeen buys, and one strong buy, with a consensus rating of “Moderate Buy” and a target price of $210.09.
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Diamondback Energy Stock Performance
Diamondback Energy shares opened at $183.99 on Friday. Key metrics include a 50-day average at $186.35, a 200-day average at $194.81, a market cap of $32.81 billion, and a PE ratio of 10.37. The stock hit a low of $145.70 and a high of $214.50 in the past year.
In its latest earnings report on August 5, the company posted $4.52 EPS, slightly beating estimates, with revenue of $2.48 billion, up 29.4% year-over-year.
Investor Activity
Recent changes by institutional investors include Quent Capital increasing its stake by 7.2%, Carolinas Wealth Consulting raising theirs by 67.1%, and others making smaller adjustments. Institutions now hold 90.01% of the shares.
Insider Transactions
Major shareholder Lyndal Greth sold over 13 million shares on September 23 for about $2.31 billion, now holding around 1 million shares valued at approximately $181.7 million.
Dividend Update
Diamondback Energy recently announced a dividend of $2.34, up from $2.26, providing a yield of 1.9% and a payout ratio of 20.29%. The dividend was paid on August 22 to shareholders on record by August 15.
Company Overview
Diamondback Energy, Inc. is an independent oil and natural gas firm operating primarily in the Permian Basin in West Texas, focusing on unconventional reserves.
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