Scotiabank Forecasts Weaker Earnings for Diamondback Energy

Diamondback Energy, Inc. (NASDAQ:FANG) – Analysts at Scotiabank lowered their FY2026 earnings per share estimates for shares of Diamondback Energy in a note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now forecasts that the oil and natural gas company will post earnings of $16.35 per share for the year, down from their prior forecast of $16.50. The consensus estimate for Diamondback Energy’s current full-year earnings is $15.49 per share.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Mizuho lifted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Truist Financial raised their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Finally, Raymond James decreased their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $158.48 on Friday. The company’s fifty day moving average price is $160.80 and its 200-day moving average price is $170.76. Diamondback Energy has a one year low of $137.09 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $45.87 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85.

Institutional Trading of Diamondback Energy

A number of institutional investors and hedge funds have recently bought and sold shares of FANG. State Street Corp increased its position in Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after buying an additional 928,429 shares during the last quarter. Boston Partners raised its stake in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after acquiring an additional 571,820 shares during the period. Geode Capital Management LLC boosted its stake in shares of Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after purchasing an additional 91,605 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after buying an additional 502,916 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.52%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, 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.