Diamondback Energy Inc. (FANG) Stock Short-term Performance Analysis

A share price of Diamondback Energy Inc. [FANG] is currently trading at $156.26, up 0.33%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The FANG shares have gain 2.43% over the last week, with a monthly amount glided 5.93%, and seem to be holding up well over a long-time horizon.

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On 31, July 2023, Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Announces Intent to Convert Into Corporate Stucture. In a post published today on Yahoo Finance, Viper Energy Partners LP (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced its intent to convert its legal status from a Delaware limited partnership into a Delaware corporation. The conversion is expected to be completed by or before December 31, 2023. After the conversion, it is expected that Viper’s current limited partners would own the same percentage of the corporation’s outstanding shares as they currently own of Viper’s outstanding equity interests.

From an analyst’s perspective:

Diamondback Energy Inc. [NASDAQ: FANG] stock has seen the most recent analyst activity on July 13, 2023, when The Benchmark Company initiated its Buy rating and assigned the stock a price target of $154.

Diamondback Energy Inc. experienced fluctuations in its stock price throughout the past year between $108.31 and $164.90. Currently, Wall Street analysts expect the stock to reach $174.86 within the next 12 months. Diamondback Energy Inc. [NASDAQ: FANG] shares were valued at $156.26 at the most recent close of the market. An investor can expect a potential return of 11.9% based on the average FANG price forecast.

Analyzing the FANG fundamentals

During the last quarter, Diamondback Energy Inc. [NASDAQ:FANG] saw sales of 1.92 billion, an decline of -62.90%. A company’s income per employee is $4,469,136 while it generates $9,920,782 in revenue per employee. Gross Margin for this corporation currently stands at +70.29% with Operating Margin at +67.63%, Pretax Margin comes in at +59.48%, and Net Margin reading is +45.05%. To continue investigating profitability, this company’s Return on Assets is posted at 17.69, Equity is 32.06, Total Capital is 30.99, and Invested Capital is 21.73. An extended look at the Principal structure reveals enduring liabilities to the total capital of 29.83 and enduring liabilities to assets of 24.34.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 155.26 points at the first support level, and at 154.26 for the second support level. However, for the 1st resistance point, the stock is sitting at 157.34, and for the 2nd resistance point, it is at 158.42.

Diamondback Energy Inc. [FANG] reported earnings per share of $3.68 for its fiscal quarter that ended on 6/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $3.9/share, meaning a difference of -$0.22 and a surprise factor of -5.60%. By comparison, the stated earnings for the previous quarter ended on 3/30/2023 were $4.1 per share as compared to estimates of $4.33 per share, a difference of -$0.23 representing a surprise of -5.30%.

Ratios To Look Out For

A current ratio of 0.40 is a noteworthy aspect of Diamondback Energy Inc. [NASDAQ:FANG]. As well, the Quick Ratio is 0.77, while the Cash Ratio is 0.10. Considering the valuation of this stock, the price to sales ratio is 2.50, the price to book ratio is 1.64 and the P/E (TTM) ratio is 8.08.

Transactions by insiders

Insider trading has also been a hot topic recently, with 0 insiders purchasing 0 shares and 4 selling 26,812 shares in the past 3 months. Recent insider trading involved Houston David L, Director, that happened on Sep 12 when 8000.0 shares were sold. EVP, Chief Legal and Admin Off, Zmigrosky Matt completed a deal on Sep 12 to sell 2706.0 shares. Meanwhile, Director WEST STEVEN E sold 8000.0 shares on Aug 10.