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Diamondback Energy (FANG) Stock Forecast, Price & News

$157.14
-0.09 (-0.06%)
(As of 09/28/2023 ET)
Compare
Today's Range
$156.23
$158.88
50-Day Range
$141.24
$157.92
52-Week Range
$115.95
$168.95
Volume
1.22 million shs
Average Volume
2.07 million shs
Market Capitalization
$28.10 billion
P/E Ratio
8.15
Dividend Yield
2.14%
Price Target
$177.74

Diamondback Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.90 Rating Score
Upside/​Downside
13.1% Upside
$177.74 Price Target
Short Interest
Bearish
4.85% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-7.51
Upright™ Environmental Score
News Sentiment
1.17mentions of Diamondback Energy in the last 14 days
Based on 12 Articles This Week
Insider Trading
Selling Shares
$5.70 M Sold Last Quarter
Proj. Earnings Growth
18.88%
From $17.48 to $20.78 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.05 out of 5 stars

Oils/Energy Sector

14th out of 247 stocks

Crude Petroleum & Natural Gas Industry

10th out of 81 stocks


FANG stock logo

About Diamondback Energy (NASDAQ:FANG) Stock

Diamondback Energy, Inc. is an independent oil and natural gas company headquartered in Midland, Texas. Founded in 2007, Diamondback Energy's mission is to provide sustainable energy to the world while maintaining a commitment to safety, environmental stewardship, and operational excellence. The company primarily focuses on acquiring, developing, exploring, and producing oil and natural gas reserves in the Permian Basin of West Texas.

Diamondback Energy's essential products and services include the exploration, development, and production of crude oil and natural gas. The company's target market primarily comprises commercial and industrial customers who rely on oil and natural gas for energy. Its key customers include midstream companies, refineries, and petrochemical producers. Diamondback Energy has received multiple awards and recognition for its environmental and safety efforts, including the "Environmental Stewardship Award" from the Independent Petroleum Association of America.

Diamondback Energy's leadership team comprises experienced professionals with diverse backgrounds in the energy industry. Travis Stice has served as the company's Chief Executive Officer since its founding and has over 30 years of experience in the industry. 

Diamondback Energy has experienced strong financial performance recently, with revenues increasing and positive earnings per share for the past several years, with EPS growing yearly. Diamondback Energy's profit margin is higher than the industry average, and the company has a relatively low debt-to-equity ratio indicating a relatively low level of debt financing.

Diamondback Energy's current market capitalization is around $25 billion, with a price-to-earnings ratio and a price-to-book ratio lower than industry averages. This suggests that the market is pricing in some growth potential for the company.

The stock has been volatile due to concerns about rising inflation and interest rates. The volatility reflects the broader market's uncertainty about the trajectory of interest rates and the potential impact on economic growth and corporate earnings. However, the company's strong financial position and efficient operations should enable it to weather any possible downturn in the energy market.

Diamondback Energy operates in the oil and gas exploration and production industry, specifically focused on the Permian Basin, one of the largest and most productive oil and gas regions in the United States. The company's competitors include other sizeable independent exploration and production companies, such as Concho Resources and Pioneer Natural Resources, as well as integrated oil and gas companies like Chevron and ExxonMobil.

The industry has undergone significant consolidation in recent years, with several large mergers and acquisitions, as companies look to achieve scale and cost efficiencies. The sector also faces regulatory and political risks, with potential changes in tax policies and environmental regulations that could impact profitability.

Diamondback Energy has a solid competitive position in the industry, focusing on operational efficiency and cost control, allowing it to maintain profitability even in challenging market conditions. The company has also invested in technology and innovation, including using artificial intelligence and machine learning to optimize drilling and completion operations.

Diamondback Energy's growth opportunities primarily focus on expanding its presence in the Permian Basin by exploring and developing new oil and gas reserves. The company has a strong track record of successful drilling and completion operations, and its efficient operations and low-cost structure provide a competitive advantage in the industry.

In addition to organic growth, Diamondback Energy has also pursued acquisitions in the past, acquiring Energen Corporation in 2018 for $9.2 billion. The company has indicated that it remains open to further acquisition opportunities that can drive shareholder growth and value.

Diamondback Energy faces several risks and challenges that could impact its future performance. The company is highly dependent on the price of oil and gas, which can be volatile and subject to significant fluctuations. Additionally, the industry is subject to regulatory and political risks, which could impact profitability and the ability to operate in certain areas.

The company also faces competition from other large independent exploration and production companies and integrated oil and gas companies, which could impact market share and profitability. However, Diamondback Energy's focus on operational efficiency and cost control provides an industry competitive advantage.

FANG Price History

FANG Stock News Headlines

Baker Hughes, Pioneer, Diamondback: Energy Stocks on the Rise (FANG)
Baker Hughes, Pioneer Resources, and Diamondback Energy lead the energy sector uptrend. Production cuts from Saudi Arabia and Russia are pushing up oil prices.
Laser breakthrough could send stock soaring 2,467%
Laser breakthrough could send stock soaring 2,476% Whenever the military develops a breakthrough technology, timely investors could see groundbreaking returns. General Dynamics returned 8,990%... Boeing soared 4,238%... L3Harris shot up 1,628%...
Diamondback Energy: I Missed The Train
Diamondback Energy: I Missed The Train
66,000% upside on tiny biotech?
The Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price.
Diamondback Energy (NASDAQ:FANG) Price Target Raised to $197.00
US Oil Drillers Push the Limits Sideways
Diamondback (FANG) Gets a Buy from Wells Fargo
See More Headlines
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FANG Company Calendar

Last Earnings
7/31/2023
Ex-Dividend for 8/17 Dividend
8/09/2023
Dividend Payable
8/17/2023
Today
9/28/2023
Next Earnings (Confirmed)
11/06/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
Oil & Gas Exploration & Production
Current Symbol
NASDAQ:FANG
CUSIP
25278X10
Fax
N/A
Employees
972
Year Founded
2007

Price Target and Rating

Average Stock Price Forecast
$177.74
High Stock Price Forecast
$210.00
Low Stock Price Forecast
$145.00
Forecasted Upside/Downside
+12.5%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.90
Research Coverage
20 Analysts

Profitability

Net Income
$4.39 billion
Pretax Margin
54.78%

Debt

Sales & Book Value

Annual Sales
$9.64 billion
Cash Flow
$32.36 per share
Book Value
$87.43 per share

Miscellaneous

Free Float
178,049,000
Market Cap
$28.24 billion
Optionable
Optionable
Beta
2.04

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Key Executives

  • Mr. Travis D. SticeMr. Travis D. Stice (Age 61)
    CEO & Chairman
    Comp: $3.52M
  • Mr. Matthew Kaes Van't Hof (Age 36)
    Pres & CFO
    Comp: $1.35M
  • Mr. Daniel N. WessonMr. Daniel N. Wesson (Age 39)
    Exec. VP & COO
    Comp: $1.14M
  • Ms. Teresa L. DickMs. Teresa L. Dick (Age 53)
    Chief Accounting Officer, Exec. VP & Assistant Sec.
    Comp: $986.08k
  • Mr. P. Matt ZmigroskyMr. P. Matt Zmigrosky (Age 44)
    Exec. VP, Chief Legal & Admin. Officer and Sec.
    Comp: $1.14M
  • Mr. David L. Cannon
    Sr. VP of Geoscience & Technology
  • Mr. Adam T. Lawlis
    VP of Investor Relations
  • Mr. Jere W. Thompson III
    Sr. VP of Strategy & Corp. Devel.
  • Mr. Johnny D. Dossey
    VP of Marketing
  • Mr. David Meek
    VP of HR













FANG Stock - Frequently Asked Questions

Should I buy or sell Diamondback Energy stock right now?

20 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Diamondback Energy in the last twelve months. There are currently 1 sell rating, 1 hold rating, 17 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" FANG shares.
View FANG analyst ratings
or view top-rated stocks.

What is Diamondback Energy's stock price forecast for 2023?

20 Wall Street research analysts have issued 12-month price targets for Diamondback Energy's shares. Their FANG share price forecasts range from $145.00 to $210.00. On average, they expect the company's share price to reach $177.74 in the next twelve months. This suggests a possible upside of 12.5% from the stock's current price.
View analysts price targets for FANG
or view top-rated stocks among Wall Street analysts.

How have FANG shares performed in 2023?

Diamondback Energy's stock was trading at $136.78 at the beginning of the year. Since then, FANG stock has increased by 15.5% and is now trading at $157.93.
View the best growth stocks for 2023 here
.

When is Diamondback Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, November 6th 2023.
View our FANG earnings forecast
.

How can I listen to Diamondback Energy's earnings call?

Diamondback Energy will be holding an earnings conference call on Tuesday, November 7th at 9:00 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Diamondback Energy's earnings last quarter?

Diamondback Energy, Inc. (NASDAQ:FANG) issued its earnings results on Monday, July, 31st. The oil and natural gas company reported $3.68 EPS for the quarter, missing the consensus estimate of $3.92 by $0.24. The oil and natural gas company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.90 billion. Diamondback Energy had a net margin of 41.62% and a trailing twelve-month return on equity of 22.43%. The business's revenue was down 30.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.07 EPS.
Read the conference call transcript
.

How often does Diamondback Energy pay dividends? What is the dividend yield for Diamondback Energy?

Diamondback Energy announced a quarterly dividend on Monday, July 31st. Investors of record on Thursday, August 10th will be paid a dividend of $0.84 per share on Thursday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.13%. The ex-dividend date is Wednesday, August 9th. This is a positive change from the stock's previous quarterly dividend of $0.80.
Read our dividend analysis for FANG
.

Is Diamondback Energy a good dividend stock?

Diamondback Energy (NASDAQ:FANG) pays an annual dividend of $3.36 per share and currently has a dividend yield of 2.20%. The company has been increasing its dividend for 5 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 17.44%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, FANG will have a dividend payout ratio of 16.17% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for FANG.

How will Diamondback Energy's stock buyback program work?

Diamondback Energy declared that its board has authorized a share repurchase program on Monday, August 1st 2022, which permits the company to buyback $4,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to reacquire up to 17.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

What is Travis D. Stice's approval rating as Diamondback Energy's CEO?

26 employees have rated Diamondback Energy Chief Executive Officer Travis D. Stice on Glassdoor.com. Travis D. Stice has an approval rating of 96% among the company's employees. This puts Travis D. Stice in the top 30% of approval ratings compared to other CEOs of publicly-traded companies. 66.0% of employees surveyed would recommend working at Diamondback Energy to a friend.

What other stocks do shareholders of Diamondback Energy own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Diamondback Energy investors own include Alibaba Group (BABA), NVIDIA (NVDA), Micron Technology (MU), Intel (INTC), Tesla (TSLA), Walt Disney (DIS), Advanced Micro Devices (AMD), Boeing (BA), Johnson & Johnson (JNJ) and Netflix (NFLX).

What is Diamondback Energy's stock symbol?

Diamondback Energy trades on the NASDAQ under the ticker symbol "FANG."

Who are Diamondback Energy's major shareholders?

Diamondback Energy's stock is owned by many different retail and institutional investors. Top institutional investors include BlackRock Inc. (7.87%), State Street Corp (6.40%), Geode Capital Management LLC (2.22%), Nuveen Asset Management LLC (1.67%), Nuveen Asset Management LLC (1.67%) and Dimensional Fund Advisors LP (1.15%). Insiders that own company stock include Daniel N Wesson, David L Houston, Hof Matthew Kaes Van't, Matt Zmigrosky, Michael P Cross, Russell Pantermuehl, Steven E West, Teresa L Dick, Thomas F Hawkins and Travis D Stice.
View institutional ownership trends
.

How do I buy shares of Diamondback Energy?

Shares of FANG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Diamondback Energy's stock price today?

One share of FANG stock can currently be purchased for approximately $157.93.

How much money does Diamondback Energy make?

Diamondback Energy (NASDAQ:FANG) has a market capitalization of $28.24 billion and generates $9.64 billion in revenue each year. The oil and natural gas company earns $4.39 billion in net income (profit) each year or $19.27 on an earnings per share basis.

How many employees does Diamondback Energy have?

The company employs 972 workers across the globe.

How can I contact Diamondback Energy?

Diamondback Energy's mailing address is 500 West Texas Suite 1200, Midland TX, 79701. The official website for the company is www.diamondbackenergy.com. The oil and natural gas company can be reached via phone at (432) 221-7400 or via email at ir@diamondbackenergy.com.

This page (NASDAQ:FANG) was last updated on 9/28/2023 by MarketBeat.com Staff

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