Diamondback Energy Inc. [NASDAQ: FANG] plunged by -$6.18 during the normal trading session on Wednesday and reaching a high of $129.01 during the day while it closed the day at $126.10. The company report on June 21, 2022 that Diamondback Energy, Inc. Announces Further Enhancement To Its Capital Return Program And Intention To Increase Base Dividend.
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Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced the next step in its return of capital program.
Beginning in the third quarter of 2022, the Company’s Board of Directors has approved an increase to its return of capital commitment to at least 75% of Free Cash Flow (as defined below), from its previous commitment of at least 50% of Free Cash Flow. Additionally, the Company today announced its intention to increase its base dividend to $3.00 per common share annually ($0.75 per quarter) beginning with the second quarter of 2022. When declared, this will represent a 7.1% increase from the Company’s previous annual base dividend of $2.80 per share ($0.70 per quarter) and implies a 2.5% annualized yield based on the June 17, 2022 closing share price of $122.29. Diamondback’s base dividend will remain its primary mechanism for returning capital to stockholders, with additional return of capital expected to come in the form of variable dividends and opportunistic share repurchases.
Diamondback Energy Inc. stock has also loss -15.73% of its value over the past 7 days. However, FANG stock has declined by -6.50% in the 3 months of the year. Over the past six months meanwhile, it has gained 29.56% and gained 19.08% year-on date.
The market cap for FANG stock reached $24.47 billion, with 177.56 million shares outstanding and 176.66 million shares in the current float. Compared to the average trading volume of 2.69M shares, FANG reached a trading volume of 4883641 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $180.20 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 1.90. 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.
Barclays have made an estimate for Diamondback Energy Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 25, 2022. The new note on the price target was released on March 08, 2022, representing the official price target for Diamondback Energy Inc. stock. Previously, the target price had yet another raise from $165 to $170, while BofA Securities kept a Neutral rating on FANG stock.
The Average True Range (ATR) for Diamondback Energy Inc. is set at 7.80, with the Price to Sales ratio for FANG stock in the period of the last 12 months amounting to 3.05. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 0.77. Price to Free Cash Flow for FANG in the course of the last twelve months was 5.85 with Quick ratio for the last quarter at 0.70.
FANG stock trade performance evaluation
Diamondback Energy Inc. [FANG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.73. With this latest performance, FANG shares dropped by -3.21% in over the last four-week period, additionally plugging by 29.56% over the last 6 months – not to mention a rise of 40.62% 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 37.61, with the RSI for the last a single of trading hit 32.63, and the three-weeks RSI is set at 41.10 for Diamondback Energy Inc. [FANG]. The present Moving Average for the last 50 days of trading for this stock 138.65, while it was recorded at 132.22 for the last single week of trading, and 121.27 for the last 200 days.
Diamondback Energy Inc. [FANG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Diamondback Energy Inc. [FANG] shares currently have an operating margin of +60.01 and a Gross Margin at +62.25. Diamondback Energy Inc.’s Net Margin is presently recorded at +32.10.
Return on Equity for this stock inclined to 20.90, with Return on Assets sitting at 10.77.
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.
Earnings per share (EPS) analysis for Diamondback Energy Inc. [FANG] stock
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 16.41%.
Diamondback Energy Inc. [FANG]: Insider Ownership positions
There are presently around $20,988 million, or 91.80% of FANG stock, in the hands of institutional investors. The top three institutional holders of FANG stocks are: VANGUARD GROUP INC with ownership of 20,410,453, which is approximately -1.218% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 13,599,920 shares of the stock with an approximate value of $1.8 billion in FANG stocks shares; and STATE STREET CORP, currently with $1.49 billion in FANG stock with ownership of nearly 0.871% of the company’s market capitalization.
Positions in Diamondback Energy Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 487 institutional holders increased their position in Diamondback Energy Inc. [NASDAQ:FANG] by around 15,993,240 shares. Additionally, 356 investors decreased positions by around 16,234,186 shares, while 103 investors held positions by with 126,433,981 shares. The mentioned changes placed institutional holdings at 158,661,407 shares, according to the latest SEC report filing. FANG stock had 172 new institutional investments in for a total of 3,176,199 shares, while 70 institutional investors sold positions of 2,125,139 shares during the same period.