Diamondback Energy Inc [FANG] moved up 9.38: Why It’s Important

Diamondback Energy Inc [NASDAQ: FANG] closed the trading session at $165.98. The company report on February 12, 2024 at 6:00 AM that Diamondback Energy, Inc. and Endeavor Energy Resources, L.P. to Merge to Create a Premier Permian Independent Oil and Gas Company.

The transaction consideration will consist of approximately 117.3 million shares of Diamondback common stock and $8 billion of cash, subject to customary adjustments. The cash portion of the consideration is expected to be funded through a combination of cash on hand, borrowings under the Company’s credit facility and/or proceeds from term loans and senior notes offerings. As result of the transaction, the Company’s existing stockholders are expected to own approximately 60.5% of the combined company and Endeavor’s equity holders are expected to own approximately 39.5% of the combined company.

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The stocks have a year to date performance of 7.03 percent and weekly performance of 10.93 percent. The stock has been moved at 12.70 percent over the last six months. The stock has performed 9.64 percent around the most recent 30 days and changed 8.41 percent over the most recent 3-months.

If compared to the average trading volume of 4.25 shares, FANG reached to a volume of 7273549 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 $182.50 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 1.48. 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.

BofA Securities have made an estimate for Diamondback Energy Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 12, 2024.

The Average True Range (ATR) for Diamondback Energy Inc is set at 3.99, with the Price to Sales ratio for FANG stock in the period of the last 12 months amounting to 3.62. The Price to Book ratio for the last quarter was 1.82, with the Price to Cash per share for the same quarter was set at 4.64. Price to Free Cash Flow for FANG in the course of the last twelve months was 9.45 with Quick ratio for the last quarter at 0.86.

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 10.93. With this latest performance, FANG shares gained by 9.64% in over the last four-week period, additionally plugging by 12.70% over the last 6 months – not to mention a rise of 21.05% 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 68.59, with the RSI for the last a single of trading hit 74.51, and the three-weeks RSI is set at 64.18 for Diamondback Energy Inc [FANG]. The present Moving Average for the last 50 days of trading for this stock 153.51, while it was recorded at 154.93 for the last single week of trading, and 147.48 for the last 200 days.

Diamondback Energy Inc [FANG]: An insightful look at the core fundamentals

Diamondback Energy Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.86 and a Current Ratio set at 0.89.

Earnings per share (EPS) analysis for Diamondback Energy Inc [FANG] stock

With the latest financial reports released by the company, Diamondback Energy Inc posted 5.29/share EPS, while the average EPS was predicted by analysts to be reported at 5.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.30%. 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 2.00%.

Diamondback Energy Inc [FANG]: Institutional Ownership

The top three institutional holders of FANG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FANG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FANG stock with ownership which is approximately 5.8325%.