The stock of Diamondback Energy Inc. (NASDAQ:FANG) decreased by -$1.53 on Tuesday to finish at $147.41, down -1.03 percent. The last five days have seen an average of 1,737,360 shares of common stock traded. 10 times new highs were reached in the current year, with a gain of $10.63. The average number of shares traded over the last 20 days was 2,108,325, while the average volume over the last 50 days totaled 1,943,036.
FANG stock appreciated 8.81% since last month. On 07/17/23, the company’s shares reached a one-month low of $134.68. The stock touched a high of $164.90 on 01/27/23, after rallying from a low of $108.31 in 52 weeks. The price of FANG stock has risen by 9.42% or $10.63 this year, reaching a new high 10 times. Still, the stock price is down -10.60% from the 52-week high.
Insider Transactions
FANG stock investors should be aware that Diamondback Energy Inc. (FANG) stock had its last reported insider trading activity 6 days ago on Aug 10. On Aug 10, Director WEST STEVEN E sold 8,000 shares at $150.65 each. This transaction resulted in the insider making $1,205,181. On Aug 04, Van’t Hof Matthew Kaes sold 9,000 shares at a price of US$148.98. After the transaction, the insider now owns 155,980 shares. EVP, Chief Legal and Admin Off Zmigrosky Matt had earlier sold 5,812 shares on Aug 03 for $150.16 a share. The transaction was completed for $872,731.
Valuation Metrics
Diamondback Energy Inc. (FANG) has a trailing price-to-earnings (P/E) ratio of 7.62. Beta for the stock is 2.04. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.17, the price-to-book (PB) ratio of 1.71, and the price-to-cash flow ratio of 15.58.
Company paid $0.84 per share in dividends, an increase of 5.0% from $0.80 last year. A $0.04 dividend increase was reported on Monday July 31 2023.
Financial Health
For the three months ended June 29, Diamondback Energy Inc.’s quick ratio was 0.40, while its current ratio was 0.40, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.42, and the total debt to equity ratio is 0.42. As far as profitability goes, gross margin for the trailing twelve months is 80.90% percent. Diamondback Energy Inc.’s EBITDA margin for the year ended June 29 was 81.57%, whereas its operating margin stood at 58.40% for the same period. Based on annual data, it had gross profit of $6.51 billion and revenue of $9.64 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FANG’s return on assets (ROA) during the last 12 months has been 13.10%. There was a 24.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 23.00%.
Earnings Surprise
According to Diamondback Energy Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.92 billion, while revenues fell by -44.24% to $1.93 billion. It was predicted that Diamondback Energy Inc.’s quarterly earnings would be $3.68, but it ended up being $3.9, beating the consensus by -5.60%. EBITDA was $1.43 billion for the quarter. At the end of Diamondback Energy Inc.’s most recent quarter ended June 29, its liabilities totaled 11.38 billion, while its total debt was $6.74 billion. Equity owned by shareholders amounts to $178.82 million.
Technical Picture
Here’s a quick look at Diamondback Energy Inc.’s (FANG) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 55.17%, suggesting the stock is Neutral, with a 10.00% historical volatility rate.
The stochastic %K and %D were 65.93% and 74.17% respectively, while the average true range (ATR) was 2.83. Based on the 14-day stochastic reading of 51.99%, the RSI (14) reading is 60.90%. On the 9-day MACD Oscillator, the stock is at -0.32, and the 14-day reading is at 0.61.
Analyst Ratings
In its analyst report released on July 13, 2023, The Benchmark Company began covering Diamondback Energy Inc. (NASDAQ: FANG). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Diamondback Energy Inc. (FANG) an Buy rating. FANG is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 2 rates it overweight and 24 others recommend it as a buy.
What is FANG’s price target for the next 12 months?
The current consensus forecast for the stock is between $140.00 and $222.00, with a median target price of $170.00. In analyzing these forecasts, the average price target given by analysts for Diamondback Energy Inc. (FANG) is $169.93.
