Diamondback Energy Inc. [FANG] Stock trading around $119.20 per share: What’s Next?



Diamondback Energy Inc. [NASDAQ: FANG] gained 6.58% on the last trading session, reaching $119.20 price per share at the time. The company report on November 30, 2021 that Diamondback Energy Announces Leadership Changes.

Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) announced today a series of leadership changes.

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Russell Pantermuehl, currently Executive Vice President and Chief Engineer, will retire from his current role at the end of 2021 after having worked at Diamondback since August 2011, prior to the Company’s initial public offering. Russell and the Company have agreed that following his retirement he will serve as an advisor to Diamondback through December 31, 2022 in a limited role.

Diamondback Energy Inc. represents 181.03 million in outstanding shares, while the company has a total market value of $21.49 billion with the latest information. FANG stock price has been found in the range of $112.74 to $119.70.

If compared to the average trading volume of 2.75M shares, FANG reached a trading volume of 4454390 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $133.88 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.

Scotiabank have made an estimate for Diamondback Energy Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on November 17, 2021. While these analysts kept the previous recommendation, Johnson Rice dropped their target price from $92 to $114. The new note on the price target was released on June 08, 2021, representing the official price target for Diamondback Energy Inc. stock. Previously, the target price had yet another raise from $86 to $95, while Scotiabank kept a Sector Outperform rating on FANG stock.

The Average True Range (ATR) for Diamondback Energy Inc. is set at 5.20, with the Price to Sales ratio for FANG stock in the period of the last 12 months amounting to 3.88. The Price to Book ratio for the last quarter was 1.88, with the Price to Cash per share for the same quarter was set at 2.54. Price to Free Cash Flow for FANG in the course of the last twelve months was 7.47 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for FANG stock

Diamondback Energy Inc. [FANG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.21. With this latest performance, FANG shares gained by 12.45% in over the last four-week period, additionally plugging by 35.47% over the last 6 months – not to mention a rise of 122.10% 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 64.63, with the RSI for the last a single of trading hit 71.64, and the three-weeks RSI is set at 61.07 for Diamondback Energy Inc. [FANG]. The present Moving Average for the last 50 days of trading for this stock 108.90, while it was recorded at 110.98 for the last single week of trading, and 90.09 for the last 200 days.

Diamondback Energy Inc. [FANG]: A deeper dive into fundamental analysis

Diamondback Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

Diamondback Energy Inc. [FANG]: An earnings per share (EPS) analysis

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 56.96%.

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An analysis of insider ownership at Diamondback Energy Inc. [FANG]

There are presently around $17,804 million, or 88.80% of FANG stock, in the hands of institutional investors. The top three institutional holders of FANG stocks are: VANGUARD GROUP INC with ownership of 20,411,591, which is approximately -1.135% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 11,608,756 shares of the stock with an approximate value of $1.3 billion in FANG stocks shares; and JPMORGAN CHASE & CO, currently with $1.2 billion in FANG stock with ownership of nearly 4.31% of the company’s market capitalization.

360 institutional holders increased their position in Diamondback Energy Inc. [NASDAQ:FANG] by around 14,045,720 shares. Additionally, 298 investors decreased positions by around 17,665,305 shares, while 96 investors held positions by with 127,482,329 shares. The mentioned changes placed institutional holdings at 159,193,354 shares, according to the latest SEC report filing. FANG stock had 112 new institutional investments in for a total of 3,468,228 shares, while 65 institutional investors sold positions of 1,279,094 shares during the same period.