DIAMONDBACK ENERGY Reports Fourth Quarter Financial Results for FY2022 on February 21 2023
March 3, 2023
Earnings report
DIAMONDBACK ENERGY ($NASDAQ:FANG) released their financial results for the fourth quarter of FY2022, ending on December 31 2022, on February 21 2023. The company reported a total revenue of USD 1.0 billion, an increase of 1.0% compared to the same period the previous year. Net income was also up slightly at USD 2.0 billion, a 0.5% year-on-year rise. These results highlight the strength of DIAMONDBACK ENERGY’s performance over the past fiscal year.
The revenue increase further solidifies the success of the company’s business operations, while the rise in net income is indicative of their ability to generate continuous profit. These results demonstrate the reliability of DIAMONDBACK ENERGY as a secure investment opportunity in the future.
Share Price
The stock opened at $135.3 and closed the day at $134.2, a 0.3% decrease from the previous closing price of 134.7. Although the share price dropped slightly compared to the opening value, market analysts are optimistic that DIAMONDBACK ENERGY‘s financial future is looking bright. The company’s management team has implemented various strategies to ensure continued financial growth and success in FY2023. Investors will be closely monitoring the company’s progress in the upcoming quarter. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Diamondback Energy. More…
| Total Revenues | Net Income | Net Margin |
| 9.64k | 4.39k | 50.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Diamondback Energy. More…
| Operations | Investing | Financing |
| 6.33k | -3.33k | -3.5k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Diamondback Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 26.21k | 10.52k | 83.46 |
Key Ratios Snapshot
Some of the financial key ratios for Diamondback Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 34.5% | 63.8% | 61.0% |
| FCF Margin | ROE | ROA |
| 29.2% | 25.5% | 14.0% |
Analysis
At GoodWhale, we conducted an analysis of DIAMONDBACK ENERGY‘s wellbeing. Based on our Star Chart, DIAMONDBACK ENERGY is a ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. This type of company will likely be an attractive investment for various types of investors. When evaluating DIAMONDBACK ENERGY’s financial health, we assigned it a health score of 7/10. This indicates that DIAMONDBACK ENERGY is capable of paying off debt and funding future operations. Additionally, the company is strong in dividends and growth, and medium in asset and profitability. We believe this is indicative of a healthy financial state. More…
Peers
The oil and gas industry is a highly competitive sector with many firms vying for market share. Among the top competitors in this industry are Diamondback Energy Inc, Pioneer Natural Resources Co, Hess Corp, and Continental Resources Inc. All of these companies are engaged in a fierce battle to gain an advantage over the others in terms of production, reserves, and market share. While each company has its own strengths and weaknesses, they all share one common goal: to be the leading firm in the oil and gas industry.
– Pioneer Natural Resources Co ($NYSE:PXD)
Pioneer Natural Resources Co is an oil and gas exploration and production company with operations in the United States, South Africa, and Trinidad and Tobago. The company has a market cap of 58.25B as of 2022 and a return on equity of 21.22%. Pioneer Natural Resources is engaged in the business of exploring for, developing, and producing oil and gas properties. The company was founded in 1997 and is headquartered in Irving, Texas.
– Hess Corp ($NYSE:HES)
Hess Corp is an American oil and gas company with a market cap of 38.67B as of 2022. The company has a Return on Equity of 29.47%. Hess Corp is involved in the exploration, production, transportation, and sale of crude oil and natural gas. The company also has refining and marketing operations.
– Continental Resources Inc ($NYSE:CLR)
Continental Resources, Inc. is an oil and natural gas exploration and production company with operations in the United States. The company has a market cap of $26.51 billion and a return on equity of 30.54%. Continental Resources is engaged in the exploration, development and production of crude oil and natural gas. The company’s operations are primarily focused in the Bakken and Three Forks shale plays in the Williston Basin in North Dakota and Montana.
Summary
Diamondback Energy had a successful quarter, as total revenue reached USD 1.0 billion, up 1.0% year-on-year and net income was up a slight 0.5%. This performance highlights the company’s resilience and ability to perform in a challenging business environment. Investors will likely be encouraged by this result, as it shows positive signs of growth and profitability. Diamondback Energy is well-positioned to continue to deliver strong financial results going forward, providing investors with an attractive opportunity for future returns.
