Diamondback Energy Inc. [FANG] is 56.63% higher this YTD. Is it still time to buy?

Diamondback Energy Inc. [NASDAQ: FANG] traded at a high on 03/19/21, posting a 0.85 gain after which it closed the day’ session at $75.81. The company report on March 19, 2021 that Diamondback Energy Prices Offering of Senior Notes.

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Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”) announced that it has priced an offering of $650,000,000 in aggregate principal amount of 0.900% senior notes that will mature on March 24, 2023 (the “2023 notes”), $900,000,000 in aggregate principal amount of 3.125% senior notes that will mature on March 24, 2031 (the “2031 notes”) and $650,000,000 in aggregate principal amount of 4.400% senior notes that will mature on March 24, 2051 (the “2051 notes” and, collectively with the 2023 notes and the 2031 notes, the “Notes”). The prices to the public for the 2023 notes, the 2031 notes and the 2051 notes are 99.990%, 99.659% and 99.669% of the principal amounts, respectively.

Diamondback intends to use the net proceeds from the offering (i) to fund the purchase prices for the tender offers (the “Tender Offers”) of any and all of Diamondback’s outstanding 5.375% Senior Notes due 2025 (the “2025 Notes”) and any and all of QEP Resources, Inc.’s outstanding 5.375% Senior Notes due 2022 (the “QEP 2022 Notes”), 5.250% Senior Notes due 2023 (the “QEP 2023 Notes”) and 5.625% Senior Notes due 2026 (the “QEP 2026 Notes”) and to pay any applicable premiums therefor, the accrued and unpaid interest thereon and fees and expenses of the Tender Offers and the related consent solicitations and (ii) for general corporate purposes. The offering is expected to close on March 24, 2021, subject to customary closing conditions. The offering of the Notes is not contingent on the closing of the Tender Offers.

The results of the trading session contributed to over 9424163 shares changing hands. Over the past one week, the price volatility of Diamondback Energy Inc. stands at 5.74% while the volatility over the past one month is 6.51%.

The market cap for FANG stock reached $11.88 billion, with 157.95 million shares outstanding and 144.54 million shares in the current float. Compared to the average trading volume of 3.17M shares, FANG reached a trading volume of 9424163 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Diamondback Energy Inc. [FANG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FANG shares is $90.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FANG stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Johnson Rice have made an estimate for Diamondback Energy Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 09, 2021. While these analysts kept the previous recommendation, Scotiabank raised their target price to Sector Outperform. The new note on the price target was released on February 01, 2021, representing the official price target for Diamondback Energy Inc. stock. Previously, the target price had yet another raise to $65, while Morgan Stanley analysts kept a Overweight rating on FANG stock. On October 28, 2020, analysts decreased their price target for FANG shares from 51 to 41.

The Average True Range (ATR) for Diamondback Energy Inc. is set at 4.72, with the Price to Sales ratio for FANG stock in the period of the last 12 months amounting to 4.22. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 0.66. Price to Free Cash Flow for FANG in the course of the last twelve months was 6.54 with Quick ratio for the last quarter at 0.50.

How has FANG stock performed recently?

Diamondback Energy Inc. [FANG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.56. With this latest performance, FANG shares gained by 16.38% in over the last four-week period, additionally plugging by 124.36% over the last 6 months – not to mention a rise of 305.62% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FANG stock in for the last two-week period is set at 51.21, with the RSI for the last a single of trading hit 45.07, and the three-weeks RSI is set at 54.56 for Diamondback Energy Inc. [FANG]. The present Moving Average for the last 50 days of trading for this stock 68.50, while it was recorded at 79.75 for the last single week of trading, and 46.42 for the last 200 days.

Diamondback Energy Inc. [FANG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Diamondback Energy Inc. [FANG] shares currently have an operating margin of +19.37 and a Gross Margin at +22.64. Diamondback Energy Inc.’s Net Margin is presently recorded at -160.58.

Return on Total Capital for FANG is now 3.03, given the latest momentum, and Return on Invested Capital for the company is -27.34. Return on Equity for this stock declined to -40.98, with Return on Assets sitting at -21.95. When it comes to the capital structure of this company, Diamondback Energy Inc. [FANG] has a Total Debt to Total Equity ratio set at 67.43. Additionally, FANG Total Debt to Total Capital is recorded at 40.27, with Total Debt to Total Assets ending up at 33.66. Long-Term Debt to Equity for the company is recorded at 63.95, with the Long-Term Debt to Total Capital now at 38.20.

Reflecting on the efficiency of the workforce at the company, Diamondback Energy Inc. [FANG] managed to generate an average of -$6,170,765 per employee. Receivables Turnover for the company is 5.25 with a Total Asset Turnover recorded at a value of 0.14.Diamondback Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Earnings analysis for Diamondback Energy Inc. [FANG]

With the latest financial reports released by the company, Diamondback Energy Inc. posted 1.45/share EPS, while the average EPS was predicted by analysts to be reported at 1.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FANG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Diamondback Energy Inc. go to 49.63%.

Insider trade positions for Diamondback Energy Inc. [FANG]

There are presently around $11,303 million, or 91.70% of FANG stock, in the hands of institutional investors. The top three institutional holders of FANG stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 19,337,005, which is approximately 1.785% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 18,176,610 shares of the stock with an approximate value of $1.38 billion in FANG stocks shares; and JPMORGAN CHASE & CO, currently with $941.87 million in FANG stock with ownership of nearly -3.511% of the company’s market capitalization.

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Positions in Diamondback Energy Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 276 institutional holders increased their position in Diamondback Energy Inc. [NASDAQ:FANG] by around 19,583,315 shares. Additionally, 273 investors decreased positions by around 22,664,356 shares, while 63 investors held positions by with 106,852,297 shares. The mentioned changes placed institutional holdings at 149,099,968 shares, according to the latest SEC report filing. FANG stock had 125 new institutional investments in for a total of 5,358,590 shares, while 72 institutional investors sold positions of 1,628,501 shares during the same period.

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