Diamondback Energy Inc. (FANG): What Technical Indicators Show

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Diamondback Energy Inc. (NASDAQ:FANG) saw a downside of -0.67% to $146.25 after subtracting -$0.99 on Wednesday. The 5-day average trading volume is 1,312,049 shares of the company’s common stock. It has gained $150.50 in the past week and touched a new high 4 times within the past 5 days. An average of 1,785,412 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,558,873.

FANG’s 1-month performance is 7.47% or $9.19 on its low of $128.08 reached on 01/04/23. The company’s shares have touched a 52-week low of $101.00 and high of $167.42, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, FANG has achieved 7.65% or $9.44 and has reached a new high 9 times. However, the current price is down -12.65% from the 52-week high price.

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Insider Transactions

FANG stock investors last saw insider trading activity on Dec 21.Zmigrosky Matt (Exec. VP, Gen Counsel and Sec) most recently sold 2,012 shares at $136.96 per share on Dec 21. This transaction cost the insider $275,562. President & CFO, Van’t Hof Matthew Kaes, sold 6,000 shares at a price of $160.00 on Jun 07. Then, on May 27, Chief Executive Officer Stice Travis D. sold 30,000 shares at a price of $150.01 per share. This transaction amounted to $4,500,303.

Valuation Metrics

FANG stock has a beta of 2.03. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.67 while the price-to-book (PB) in the most recent quarter is 1.86, with the price to cash flow ratio at 5.39.

Diamondback Energy Inc.’s quick ratio for the period ended September 29 was 0.60, with the current ratio over the same period at 0.60. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.39, while the total debt to equity was 0.39. In terms of profitability, the gross margin trailing 12 months is 84.20%. The firm’s gross profit as reported stood at $4.0 billion against revenue of $6.8 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 45.19% to $1.18 billion, while revenue of $1.42 billion was -19.59% off the previous quarter. Analysts expected FANG to announce $6.33 per share in earnings in its latest quarter, but it posted $6.48, representing a 2.40% surprise. EBITDA for the quarter stood at more than $1.95 billion. FANG stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 9.29 billion, with total debt at $5.56 billion. Shareholders hold equity totaling $176.0 million.

Let’s look briefly at Diamondback Energy Inc. (FANG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 59.41% to suggest the stock is trending Neutral, with historical volatility in this time period at 18.38%.

The stock’s 5-day moving average is $147.36, reflecting a +1.47% or $2.12 change from its current price. FANG is currently trading +6.71% above its 20-day SMA, +9.71% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -8.77% and SMA200 by+6.77%.

Stochastic %K and %D was 86.81% and 89.32% and the average true range (ATR) pointed at 4.00. The RSI (14) points at 57.21%, while the 14-day stochastic is at 78.85% with the period’s ATR at 4.24. The stock’s 9-day MACD Oscillator is pointing at 1.25 and 3.67 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Diamondback Energy Inc. (NASDAQ: FANG), Wells Fargo launched coverage with an Overweight rating. Analysts offering their rating for FANG stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate FANG as a “sell,”, while 3 advise that investors “Hold.” 2 analysts have rated the stock as underweight. 3 rates the stock as overweight while 25 have offered a “buy” rating.

What is FANG’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $135.00 and a high of $214.00, with their median price target at $175.00. Looking at these predictions, the average price target given by analysts is for Diamondback Energy Inc. (FANG) stock is $178.23.

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