As of Wednesday close, Diamondback Energy Inc.’s (NASDAQ:FANG) stock was up $0.12, moving up 0.08 percent to $151.31. The average number of shares traded per day over the past five days has been 1,692,300 shares. 4 times new highs have been achieved over the past 5 days, with a $3.09 gain in that time frame. In the last twenty days, the average volume was 1,727,420, while in the previous 50 days, it was 1,872,854.
Since last month, FANG stock rose 2.32%. Shares of the company fell to $144.24 on 08/08/23, the lowest level in the past month. A 52-week high of $164.90 was reached on 01/27/23 after having rallying from a 52-week low of $108.31. Since the beginning of this year, FANG’s stock price has risen by 12.32% or $14.53, and marked a new high 10 times. However, the stock has declined by -8.24% since its 52-week high.
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FANG stock investors should be aware that Diamondback Energy Inc. (FANG) stock had its last reported insider trading activity 21 days ago on Aug 10. WEST STEVEN E, the Director of the company, disposed of 8,000 shares for $150.65 on Aug 10. It resulted in a $1,205,181 divestment by the insider. Van’t Hof Matthew Kaes sold 9,000 shares at an average price of $148.98 on Aug 04. The insider now owns 155,980 shares following the transaction. On Aug 03, EVP, Chief Legal and Admin Off Zmigrosky Matt sold 5,812 shares at $150.16 apiece. The transaction was valued at $872,731.
Valuation Metrics
Right now, Diamondback Energy Inc. (FANG) has a P/E ratio of about 7.82. The stock’s beta is 2.04. Besides these, the trailing price-to-sales (P/S) ratio of 3.24, the price-to-book (PB) ratio of 1.75, and the price-to-cash flow ratio of 15.93 may also be considered.
The latest dividend of $0.84 per share was paid out, which is 5.0% more than last year’s $0.80. On Monday July 31 2023, a $0.04 dividend increase was announced.
Financial Health
In the three months ended June 29, Diamondback Energy Inc.’s quick ratio stood at 0.40, while its current ratio was 0.40, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.42, and the total debt-to-equity ratio was 0.42. On the profitability front, the trailing twelve-month gross margin is 80.90% percent. In the year ended June 29, EBITDA margin amounted to 81.57%, whereas operating margins totaled 58.40%. Based on annual data, FANG earned $6.51 billion in gross profit and brought in $9.64 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 24.60%. Return on equity (ROE) for the past 12 months was 23.00%.
In Diamondback Energy Inc.’s quarter-end financial report for June 29, it reported total debt of $6.54 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. FANG’s revenue fell -44.24% to $1.93 billion during the quarter, while net income inched up to $1.92 billion. While analysts expected Diamondback Energy Inc. to report $3.9 quarterly earnings, the actual figure was $3.68 per share, beating the consensus estimate by -5.60%. During the quarter, the company generated $1.43 billion in EBITDA. The liabilities of Diamondback Energy Inc. were 11.38 billion at the end of its most recent quarter ended June 29, and its total debt was $6.74 billion. The value of shareholders’ equity is $178.82 million.
Technical Picture
This quick technical analysis looks at Diamondback Energy Inc.’s (FANG) price momentum. With a historical volatility rate of 3.38%, the RSI 9-day stood at 75.75% on 30 August.
With respect to its five-day moving average, the current Diamondback Energy Inc. price is up by +2.08% percent or $3.09. At present, FANG shares trade +3.08% above its 20-day simple moving average and +7.66% percent above its 100-day simple moving average. However, the stock is currently trading approximately +19.17% above its SMA50 and -5.60% below its SMA200.
Stochastic coefficient K was 85.96% and Stochastic coefficient D was 79.13%, while ATR was 2.42. Given the Stochastic reading of 89.10% for the 14-day period, the RSI (14) reading has been calculated as 70.97%. As of today, the MACD Oscillator reading stands at 1.64, while the 14-day reading stands at 2.12.
Analyst Ratings
The Benchmark Company launched its rating on Diamondback Energy Inc. (NASDAQ: FANG) to a Buy in a note to investors on July 13, 2023. Diamondback Energy Inc. (FANG) has been rated Buy by analysts. According to 0 brokerage firms, FANG is a sell, and 4 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate Diamondback Energy Inc. stock as buy, with 24 recommending it as overweight.
With a median target price of $170.00, the current consensus forecast for the stock is $140.00 – $222.00. Based on these forecasts, analysts predict Diamondback Energy Inc. (FANG) will achieve an average price target of $173.52.
