Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) reported a decrease in earnings predictions for 2024 by Capital One Financial. Analyst B. Velie now expects earnings of $17.80 per share, down from $18.05, while the consensus estimate remains at $19.08 per share. They’ve also projected Q1 2025 earnings at $3.86 EPS.
Other firms, like KeyCorp and Scotiabank, adjusted their target prices, with KeyCorp reducing it from $225.00 to $216.00 and Scotiabank from $245.00 to $225.00. BMO Capital Markets upgraded Diamondback from “market perform” to “outperform” while increasing the price target. Overall, one analyst rated it a sell, five a hold, and seventeen a buy, resulting in a consensus rating of “Moderate Buy” with a target price of $210.09.
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Stock Performance
Diamondback Energy shares opened at $183.99. It has a market cap of $32.81 billion, a PE ratio of 10.37, and a 52-week range from $145.70 to $214.50.
Performance Summary
In Q2, Diamondback reported $4.52 EPS, beating the $4.51 estimate. The revenue was $2.48 billion, surpassing expectations of $2.19 billion, and increased 29.4% year-over-year.
Institutional Activity
Recent institutional changes include Quent Capital raising its stake by 7.2%, and Carolinas Wealth Consulting increasing by 67.1%. 90.01% of the company’s stock is owned by institutional investors.
Insider Transactions
Major shareholder Lyndal Greth sold over 13 million shares, valued at approximately $2.31 billion, reducing their stake slightly to 1 million shares.
Dividends
Diamondback recently paid a dividend of $2.34 per share, up from $2.26, with a yield of 1.9% and a payout ratio of 20.29%.
Company Overview
Diamondback Energy explores, develops, and acquires oil and natural gas reserves in the Permian Basin, Texas.
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