Diamondback Energy Inc (NASDAQ:FANG) does about 1.84M shares in volume on a normal day but saw 1829852 shares change hands in Monday trading. The company now has a market cap of 36.84B USD. Its current market price is $206.57, marking an increase of 1.10% compared to the previous close of $204.32. The 52 week high reached by this stock is $205.02 whilst the lowest price level in 52 weeks is $120.02.
Diamondback Energy Inc (FANG) has a 20-day trading average at $195.06 and the current price is 0.75% off the 52-week high compared with 72.12% distance from its 52-week low. The 50-day simple moving average of the closing price is $179.26 and its 200-day simple moving average is $158.19. If we look at the stock’s price movements over the week, volatility stands at 1.81%, which decreases to 1.49% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 80.86 to suggest the stock is overbought.
The consensus objective for the share price is $201.62, suggesting that the stock has a potential downside of -2.46% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 12, 2024 when BofA Securities upgraded the stock to “Neutral” and issued a price target of between $129 and $170. Citigroup downgraded the stock to “Neutral” from Buy on October 23, 2023 at a price target of $160-$170. The Benchmark Company initiated its price target at $154.
Diamondback Energy Inc (FANG) stock is up 3.57% over the week and 13.00% over the past month. Its price is 34.79% year-to-date and 48.59% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of $4.74 above consensus estimates by $0.08. FANG’s earnings per share are forecast to shrink by -0.90% this year and 11.10% over next year. Expected sales for next quarter are $2.1 billion, which analysts say will come at $8.96 billion for the current fiscal year and next year at $15.42 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.05 billion.
To reach the target analysts have set, the stock logically needs to shrink -2.46 percent from here.
Outstanding shares total 178.72M with insiders holding 0.61% of the shares and institutional holders owning 93.60% of the company’s common stock. The company has a return on investment of 13.41% and return on equity of 19.73%. The price to earnings ratio (P/E ratio) amounts to 11.91 while the forward price to earnings ratio is 9.99. The beta has a value of 1.92. Price to book ratio is 2.22 and price to sales ratio is 4.38.
