Reflections On The Past For Investors Today: Diamondback Energy Inc (NASDAQ: FANG)

Diamondback Energy Inc (NASDAQ:FANG) does about 1.41M shares in volume on a normal day but saw 993681 shares change hands in the recent trading day. The company now has a market cap of 36.13B USD. Its current market price is $202.60, marking a decrease of -0.37% compared to the previous close of $203.35. The 52 week high reached by this stock is $210.83 whilst the lowest price level in 52 weeks is $127.89. The script in recent trading has seen the stock touch a high of $248 and a low of $95.

Diamondback Energy Inc (FANG) has a 20-day trading average at $196.75 and the current price is -3.90% off the 52-week high compared with 58.42% distance from its 52-week low. The 50-day simple moving average of the closing price is $197.23 and its 200-day simple moving average is $175.20. If we look at the stock’s price movements over the week, volatility stands at 2.17%, which decreases to 1.94% 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 58.57 to suggest the stock is neutral.

The consensus objective for the share price is $223.69, suggesting that the stock has a potential upside of 9.43% over the period. The median price target is -12.87% away from the current levels at $179.5.

10 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on June 06, 2024 when Bernstein initiated the stock to “Outperform” and issued a price target of $243. BofA Securities upgraded its price target at $129-$170.

Diamondback Energy Inc (FANG) stock is down -0.54% over the week and 6.05% over the past month. Its price is 32.91% year-to-date and 58.19% over the past year.

Its 12-month price target is $179.5. To reach the target analysts have set, the stock logically needs to grow 9.43 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $95, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $248.

The company has a return on investment of 13.47% and return on equity of 19.60%. The price to earnings ratio (P/E ratio) amounts to 11.42 while the forward price to earnings ratio is 9.87. The beta has a value of 1.89. Price to book ratio is 2.13 and price to sales ratio is 4.15.