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Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) – Equities researchers at Capital One Financial lowered their FY2022 earnings per share estimates for Diamondback Energy in a research report issued on Friday, January 20th. Capital One Financial analyst B. Velie now forecasts that the oil and natural gas company will earn $24.25 per share for the year, down from their prior estimate of $24.89. The consensus estimate for Diamondback Energy’s current full-year earnings is $24.50 per share. Capital One Financial also issued estimates for Diamondback Energy’s Q1 2023 earnings at $5.06 EPS.
FANG has been the subject of several other research reports. Barclays cut their price target on Diamondback Energy from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, December 7th. Credit Suisse Group upped their price objective on Diamondback Energy from $190.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, November 17th. Citigroup upped their price objective on Diamondback Energy from $155.00 to $170.00 in a research note on Tuesday, November 22nd. Roth Capital upped their price objective on Diamondback Energy from $150.00 to $182.00 in a research note on Tuesday, November 1st. Finally, Truist Financial upped their price objective on Diamondback Energy from $203.00 to $209.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.81.
Diamondback Energy Stock Performance
NASDAQ:FANG opened at $147.55 on Monday. The stock has a 50-day simple moving average of $142.38 and a two-hundred day simple moving average of $136.51. Diamondback Energy has a 52-week low of $103.71 and a 52-week high of $168.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.58 and a current ratio of 0.61. The firm has a market capitalization of $25.97 billion, a PE ratio of 6.01, a P/E/G ratio of 0.28 and a beta of 2.00.
Diamondback Energy (NASDAQ:FANG – Get Rating) last posted its quarterly earnings data on Monday, November 7th. The oil and natural gas company reported $6.48 EPS for the quarter, missing analysts’ consensus estimates of $6.51 by ($0.03). Diamondback Energy had a net margin of 45.47% and a return on equity of 28.49%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.38 billion.
Institutional Trading of Diamondback Energy
Institutional investors and hedge funds have recently made changes to their positions in the business. Armstrong Advisory Group Inc. purchased a new stake in shares of Diamondback Energy during the fourth quarter worth approximately $25,000. Adirondack Trust Co. increased its position in shares of Diamondback Energy by 275.0% during the third quarter. Adirondack Trust Co. now owns 225 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 165 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Diamondback Energy during the second quarter worth approximately $28,000. SOA Wealth Advisors LLC. increased its position in shares of Diamondback Energy by 72.1% during the third quarter. SOA Wealth Advisors LLC. now owns 241 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 101 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC increased its position in shares of Diamondback Energy by 366.7% during the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 176 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, VP Matt Zmigrosky sold 2,012 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $136.96, for a total transaction of $275,563.52. Following the completion of the transaction, the vice president now directly owns 23,623 shares in the company, valued at $3,235,406.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.
Diamondback Energy Dividend Announcement
The company also recently announced a None dividend, which was paid on Friday, November 25th. Investors of record on Thursday, November 17th were issued a dividend of $2.26 per share. This represents a dividend yield of 4.7%. The ex-dividend date was Wednesday, November 16th. Diamondback Energy’s dividend payout ratio (DPR) is 12.22%.
Diamondback Energy Company Profile
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.
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