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Diamondback Energy Inc. (NASDAQ: FANG): The Stock To Invest In Over The Next Few Months

In the latest trading session, 1.46 million Diamondback Energy Inc. (NASDAQ:FANG) shares changed hands as the company’s beta touched 2.04. With the company’s most recent per share price at $124.07 changed hands at -$8.57 or -6.46% at last look, the market valuation stands at $25.07B. FANG’s current price is a discount, trading about -32.93% off its 52-week high of $164.93. The share price had its 52-week low at $99.50, which suggests the last value was 19.8% up since then. When we look at Diamondback Energy Inc.’s average trading volume, we note the 10-day average is 2.62 million shares, with the 3-month average coming to 2.46 million.

Analysts gave the Diamondback Energy Inc. (FANG) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 32 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 4 recommended FANG as a Hold, 24 felt it is a Buy and 1 rated the stock as Underweight. Diamondback Energy Inc.’s EPS for the current quarter is expected to be $5.31.

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Diamondback Energy Inc. (NASDAQ:FANG) trade information

Instantly FANG was in red as seen in intraday trades today. With action -12.92%, the performance over the past five days has been red. The drop to weekly highs of 145.46 on Tuesday, 03/14/23 subtracted -6.46% to the stock’s daily price. The company’s shares are showing year-to-date downside of -7.92%, with the 5-day performance at -12.92% in the red. However, in the 30-day time frame, Diamondback Energy Inc. (NASDAQ:FANG) is -15.03% down. Looking at the short shares, we see there were 4.62 million shares sold at short interest cover period of 2.38 days.

Diamondback Energy Inc. (FANG) estimates and forecasts

Data shows that the Diamondback Energy Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -5.65% over the past 6 months, a -8.08% in annual growth rate that is considerably higher than the industry average of -9.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Diamondback Energy Inc. will rise 46.30%, while the growth in revenue is estimated to hit 3.10% for the next quarter. Year-over-year growth is forecast to reach 38.20% up from the last financial year.

Consensus estimates given by 15 financial analysts project the company’s revenue in the current quarter to hit an average of $2.09 billion. 14 analysts are of the opinion that Diamondback Energy Inc.’s revenue for the quarter ending Mar 2023 will be $2.25 billion. The company’s revenue for the corresponding quarters a year ago was $2.02 billion and $2.41 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 3.50%. The estimates for the next quarter sales put growth at -6.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 34.30%. The 2023 estimates are for Diamondback Energy Inc. earnings to increase by 100.00%, but the outlook for the next 5-year period is at -1.59% per year.

FANG Dividends

Diamondback Energy Inc. is expected to release its next quarterly earnings report between May 01 and May 05. The 7.21% annual yield figure for the share gives it an annual dividend of 9.56. It is important to note, however, that the 7.21% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Diamondback Energy Inc. (NASDAQ:FANG)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.40% of Diamondback Energy Inc. shares while 98.97% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 99.36%. There are 98.97% institutions holding the Diamondback Energy Inc. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Sep 29, 2022, the company held 12.13% of the shares, roughly 21.77 million FANG shares worth $2.62 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.34% or 13.18 million shares worth $1.59 billion as of Sep 29, 2022.

Among Mutual Funds, the top two as of Sep 29, 2022 were Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. With 5.29 million shares estimated at $637.55 million under it, the former controlled 2.95% of total outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held about 2.84% of the shares, roughly 5.09 million shares worth around $696.45 million.

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