The stock price of Diamondback Energy Inc (NASDAQ: FANG) has plunged by -0.50 when compared to previous closing price of 206.57, but the company has seen a 2.58% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-09 that Prices for crude oil have risen to their highest level in five months amid growing concerns of tighter supplies fueled by OPEC+ production cuts and turmoil in the Middle East. The price of Brent crude oil, the international standard, is currently at $90.19 per barrel, having risen more than 5% since the start of April.
Is It Worth Investing in Diamondback Energy Inc (NASDAQ: FANG) Right Now?
The price-to-earnings ratio for Diamondback Energy Inc (NASDAQ: FANG) is above average at 11.85x, Company’s 36-month beta value is 1.92.Analysts have differing opinions on the stock, with 19 analysts rating it as a “buy,” 9 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for FANG is 177.36M, and currently, short sellers hold a 3.11% ratio of that floaft. The average trading volume of FANG on April 10, 2024 was 1.83M shares.
FANG’s Market Performance
The stock of Diamondback Energy Inc (FANG) has seen a 2.58% increase in the past week, with a 12.13% rise in the past month, and a 33.52% gain in the past quarter. The volatility ratio for the week is 1.93%, and the volatility levels for the past 30 days are at 1.51% for FANG. The simple moving average for the past 20 days is 5.37% for FANG’s stock, with a 32.25% simple moving average for the past 200 days.
Analysts’ Opinion of FANG
Many brokerage firms have already submitted their reports for FANG stocks, with BofA Securities repeating the rating for FANG by listing it as a “Neutral.” The predicted price for FANG in the upcoming period, according to BofA Securities is $170 based on the research report published on February 12, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see FANG reach a price target of $170, previously predicting the price at $160. The rating they have provided for FANG stocks is “Neutral” according to the report published on October 23rd, 2023.
The Benchmark Company gave a rating of “Buy” to FANG, setting the target price at $154 in the report published on July 13th of the previous year.
FANG Trading at 15.28% from the 50-Day Moving Average
After a stumble in the market that brought FANG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -1.42% of loss for the given period.
Volatility was left at 1.51%, however, over the last 30 days, the volatility rate increased by 1.93%, as shares surge +11.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +31.55% upper at present.
During the last 5 trading sessions, FANG rose by +2.58%, which changed the moving average for the period of 200-days by +63.31% in comparison to the 20-day moving average, which settled at $196.11. In addition, Diamondback Energy Inc saw 34.11% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FANG starting from Stice Travis D., who sale 30,000 shares at the price of $200.00 back on Apr 02 ’24. After this action, Stice Travis D. now owns 446,610 shares of Diamondback Energy Inc, valued at $6,000,060 using the latest closing price.
Zmigrosky Matt, the EVP, Chief Legal and Admin Off of Diamondback Energy Inc, sale 5,000 shares at $193.94 during a trade that took place back on Mar 21 ’24, which means that Zmigrosky Matt is holding 44,445 shares at $969,684 based on the most recent closing price.
Stock Fundamentals for FANG
Current profitability levels for the company are sitting at:
- 0.39 for the present operating margin
- 0.67 for the gross margin
The net margin for Diamondback Energy Inc stands at 0.38. The total capital return value is set at 0.12. Equity return is now at value 19.73, with 11.30 for asset returns.
Based on Diamondback Energy Inc (FANG), the company’s capital structure generated 0.29 points at debt to capital in total, while cash flow to debt ratio is standing at 0.87. The debt to equity ratio resting at 0.41. The interest coverage ratio of the stock is 34.9.
Currently, EBITDA for the company is 6.39 billion with net debt to EBITDA at 1.01. When we switch over and look at the enterprise to sales, we see a ratio of 5.12. The receivables turnover for the company is 9.89for trailing twelve months and the total asset turnover is 0.29. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.77.
Conclusion
In a nutshell, Diamondback Energy Inc (FANG) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
