Diamondback Energy Inc. [FANG] Is Currently -4.06 below its 200 Period Moving Avg: What Does This Mean?


Diamondback Energy Inc. [NASDAQ: FANG] loss -4.06% or -4.93 points to close at $116.45 with a heavy trading volume of 3196666 shares. The company report on August 3, 2022 that Rattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Reports Second Quarter 2022 Financial and Operating Results.

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Rattler Midstream LP (NASDAQ: RTLR) (“Rattler” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced financial and operating results for the second quarter ended June 30, 2022. Due to the pending merger between Diamondback and Rattler, Rattler will not host an earnings call for the second quarter 2022 nor hold an investor presentation.

It opened the trading session at $119.82, the shares rose to $121.06 and dropped to $116.00, the range by which the price of stock traded the whole day. The daily chart for FANG points out that the company has recorded -9.45% loss over the past six months. However, it is still -79.87% lower than its most recent low trading price.

If we look at the average trading volume of 3.11M shares, FANG reached to a volume of 3196666 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 $180.03 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.

MKM Partners have made an estimate for Diamondback Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 20, 2022. While these analysts kept the previous recommendation, Barclays dropped their target price from $162 to $160. The new note on the price target was released on May 25, 2022, representing the official price target for Diamondback Energy Inc. stock. On March 08, 2022, analysts increased their price target for FANG shares from 165 to 170.

The Average True Range (ATR) for Diamondback Energy Inc. is set at 6.15, with the Price to Sales ratio for FANG stock in the period of the last 12 months amounting to 2.48. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 0.87. Price to Free Cash Flow for FANG in the course of the last twelve months was 4.76 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for FANG stock

Diamondback Energy Inc. [FANG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.79. With this latest performance, FANG shares gained by 5.59% in over the last four-week period, additionally sinking by -9.45% over the last 6 months – not to mention a rise of 55.19% 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 44.38, with the RSI for the last a single of trading hit 42.54, and the three-weeks RSI is set at 44.81 for Diamondback Energy Inc. [FANG]. The present Moving Average for the last 50 days of trading for this stock 129.73, while it was recorded at 123.86 for the last single week of trading, and 125.11 for the last 200 days.

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

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.

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 17.01%.

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

There are presently around $18,540 million, or 91.30% 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 $1.58 billion in FANG stocks shares; and STATE STREET CORP, currently with $1.31 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 August and at the time of the August reporting period, where 474 institutional holders increased their position in Diamondback Energy Inc. [NASDAQ:FANG] by around 15,804,044 shares. Additionally, 382 investors decreased positions by around 16,426,404 shares, while 105 investors held positions by with 126,982,368 shares. The mentioned changes placed institutional holdings at 159,212,816 shares, according to the latest SEC report filing. FANG stock had 147 new institutional investments in for a total of 2,567,980 shares, while 90 institutional investors sold positions of 2,531,496 shares during the same period.