Diamondback Energy Inc (NASDAQ:FANG) finished Friday with a subtraction of -$2.26 to close at $154.88, a downside of -1.44 percent. An average of 1,893,520 shares of common stock have been traded in the last five days. There was a gain of $4.31 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 1,937,935 shares traded, while the 50-day average volume stands at 1,946,004.
FANG stock has increased by 2.36% in the last month. The company shares reached their 1-month lowest point of $150.16 on 09/22/23. With the stock rallying to its 52-week high on 09/28/23, shares of the company touched a low of $113.17 and a high of $164.90 in 52 weeks. It has reached a new high 18 times so far this year and achieved 14.97% or $18.10 in price. In spite of this, the price is down -6.07% from the 52-week high.
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Insider Transactions
FANG stock investors should be aware that Diamondback Energy Inc (FANG) stock had its last reported insider trading activity 18 days ago on Sep 12. In this transaction, the insider spent $1,252,342. EVP, Chief Legal and Admin Off, Zmigrosky Matt, disposed of 2,706 shares at a price of $157.17 on Sep 12. The insider now owns more than $425,302 worth of shares. Prior to that, Director WEST STEVEN E went on to Sale 8,000 shares at $150.65 each on Aug 10. An amount of $1,205,181 was transacted.
Valuation Metrics
Diamondback Energy Inc (FANG) has a trailing price-to-earnings (P/E) ratio of 8.03. The stock’s beta is 2.00. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.33, the price-to-book (PB) ratio at 1.78, and the price-to-cash flow ratio at 7.10.
The company has a payout ratio of 36.41%. The company’s most recent quarterly dividend payment was $0.84 a share, representing a up of 5.0% from $0.80 last year. Its latest increase dividend $0.04 reported on Monday July 31 2023.
Financial Health
The quick ratio of Diamondback Energy Inc for the three months ended June 29 was 0.40, and the current ratio was 0.43, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.42 and a total debt to equity ratio of 0.42 for the quarter ending June 29. Its gross profit as reported stood at $6.51 billion compared to revenue of $9.64 billion.
Earnings Surprise
For the three-month period that ended June 29, Diamondback Energy Inc had $6.54 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $556.0 million in the quarter, while revenues were shrunk -154.68%. The analyst consensus anticipated Diamondback Energy Inc’s latest quarter earnings to come in at $3.9 per share, but it turned out to be $3.68, a -5.60% surprise. For the quarter, EBITDA amounted to $1.43 billion. Shareholders own equity worth $178.82 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Diamondback Energy Inc (FANG) price momentum. RSI 9-day as of the close on 29 September was 52.89%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.75%.
As of today, FANG’s price is $154.99 +2.86% or $4.31 from its 5-day moving average. FANG is currently trading +2.04% higher than its 20-day SMA and +16.81% higher than its 100-day SMA. However, the stock’s current price level is +10.61% above the SMA50 and +15.40% above the SMA200.
The stochastic %K and %D were 72.55% and 62.49%, respectively, and the average true range (ATR) was 3.22. With the 14-day stochastic at 54.13% and the average true range at 3.14, the RSI (14) stands at 54.76%. The stock has reached 2.51 on the 9-day MACD Oscillator while the 14-day reading was at 1.62.
Analyst Ratings
The Benchmark Company launched coverage on Diamondback Energy Inc (NASDAQ: FANG) in its analyst report released on July 13, 2023. The firm assigned the stock a Buy rating.
What is FANG’s price target for the next 12 months?
Analysts predict a range of price targets between $145.00 and $222.00, with a median target of $170.00. Taking a look at these predictions, the average price target given by analysts for Diamondback Energy Inc (FANG) stock is $175.21.
