Diamondback Energy Inc. [FANG] Revenue clocked in at $9.11 billion, up 31.31% YTD: What’s Next?

Diamondback Energy Inc. [NASDAQ: FANG] closed the trading session at $136.65 on 08/24/22. The day’s price range saw the stock hit a low of $134.41, while the highest price level was $138.02. The company report on August 24, 2022 that Diamondback Energy, Inc. and Rattler Midstream LP Announce Completion of Merger.

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Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) and Rattler Midstream LP (NASDAQ: RTLR) (“Rattler”) today announced the completion of the previously announced merger between Rattler and Diamondback. The merger resulted in Diamondback acquiring all of the limited partner interests in Rattler not already owned by Diamondback and its subsidiaries. Each public unitholder of Rattler received 0.113 of a share of common stock in Diamondback in exchange for each Rattler common unit owned.

Effective August 24, 2022, Rattler’s common units will no longer be listed on The Nasdaq Global Select Market, and it will cease to be a publicly traded company.

The stocks have a year to date performance of 31.31 percent and weekly performance of 8.65 percent. The stock has been moved at 9.30 percent over the last six months. The stock has performed 17.56 percent around the most recent 30 days and changed 2.41 percent over the most recent 3-months.

If compared to the average trading volume of 3.02M shares, FANG reached to a volume of 3535398 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 $173.93 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 5.53, with the Price to Sales ratio for FANG stock in the period of the last 12 months amounting to 2.60. The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 0.25. Price to Free Cash Flow for FANG in the course of the last twelve months was 5.33 with Quick ratio for the last quarter at 0.70.

FANG stock trade performance evaluation

Diamondback Energy Inc. [FANG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.65. With this latest performance, FANG shares gained by 17.56% in over the last four-week period, additionally plugging by 9.30% over the last 6 months – not to mention a rise of 90.86% 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 65.64, with the RSI for the last a single of trading hit 69.81, and the three-weeks RSI is set at 58.78 for Diamondback Energy Inc. [FANG]. The present Moving Average for the last 50 days of trading for this stock 123.24, while it was recorded at 132.68 for the last single week of trading, and 126.38 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 19.41%.

Diamondback Energy Inc. [FANG]: Insider Ownership positions

There are presently around $22,488 million, or 93.70% of FANG stock, in the hands of institutional investors. The top three institutional holders of FANG stocks are: VANGUARD GROUP INC with ownership of 21,187,827, which is approximately 3.809% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 12,878,845 shares of the stock with an approximate value of $1.76 billion in FANG stocks shares; and STATE STREET CORP, currently with $1.47 billion in FANG stock with ownership of nearly -4.454% 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 492 institutional holders increased their position in Diamondback Energy Inc. [NASDAQ:FANG] by around 17,383,050 shares. Additionally, 429 investors decreased positions by around 16,154,995 shares, while 110 investors held positions by with 131,029,254 shares. The mentioned changes placed institutional holdings at 164,567,299 shares, according to the latest SEC report filing. FANG stock had 142 new institutional investments in for a total of 4,504,326 shares, while 101 institutional investors sold positions of 2,385,027 shares during the same period.


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