Q1 2024 Earnings Forecast for Diamondback Energy, Inc. Issued By Seaport Res Ptn (NASDAQ:FANG)

Diamondback Energy, Inc. (NASDAQ:FANGFree Report) – Stock analysts at Seaport Res Ptn raised their Q1 2024 earnings estimates for shares of Diamondback Energy in a report issued on Monday, February 12th. Seaport Res Ptn analyst N. Pope now anticipates that the oil and natural gas company will post earnings of $4.47 per share for the quarter, up from their previous forecast of $4.43. The consensus estimate for Diamondback Energy’s current full-year earnings is $18.03 per share. Seaport Res Ptn also issued estimates for Diamondback Energy’s Q2 2024 earnings at $4.83 EPS, Q3 2024 earnings at $4.82 EPS, Q1 2025 earnings at $4.85 EPS, Q2 2025 earnings at $4.66 EPS, Q3 2025 earnings at $4.67 EPS, Q4 2025 earnings at $4.70 EPS and FY2025 earnings at $18.88 EPS.

A number of other analysts have also commented on FANG. Raymond James decreased their price target on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Truist Financial boosted their price target on shares of Diamondback Energy from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Morgan Stanley decreased their price target on shares of Diamondback Energy from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. KeyCorp decreased their price target on shares of Diamondback Energy from $183.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Finally, Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $177.59.

View Our Latest Stock Report on Diamondback Energy

Diamondback Energy Stock Performance

Shares of FANG stock opened at $165.98 on Tuesday. The firm has a market capitalization of $29.71 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.37 and a beta of 1.89. The firm has a fifty day simple moving average of $153.56 and a two-hundred day simple moving average of $154.36. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Diamondback Energy has a 12 month low of $119.01 and a 12 month high of $171.40.

Institutional Investors Weigh In On Diamondback Energy

Several institutional investors have recently added to or reduced their stakes in FANG. Parallel Advisors LLC increased its position in shares of Diamondback Energy by 1.9% during the second quarter. Parallel Advisors LLC now owns 8,596 shares of the oil and natural gas company’s stock valued at $1,129,000 after buying an additional 162 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Diamondback Energy by 41.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,405 shares of the oil and natural gas company’s stock valued at $3,470,000 after buying an additional 6,559 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Diamondback Energy by 29.1% during the second quarter. Illinois Municipal Retirement Fund now owns 80,435 shares of the oil and natural gas company’s stock valued at $10,566,000 after buying an additional 18,137 shares during the period. Jump Financial LLC increased its position in shares of Diamondback Energy by 1,454.9% during the third quarter. Jump Financial LLC now owns 40,693 shares of the oil and natural gas company’s stock valued at $6,303,000 after buying an additional 38,076 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Diamondback Energy by 2.8% during the third quarter. Principal Financial Group Inc. now owns 610,237 shares of the oil and natural gas company’s stock valued at $94,510,000 after buying an additional 16,426 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Company Profile

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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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Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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