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Last Price: 201.15 - Change: -2.8 - Change %: -1.3729
04/17/2024 16:00:00 EST

Diamondback Energy Inc (FANG)

Industry: Oil & Gas E&P

Price Support Resistance

In the past 20 trading days, FANG has been trading in a range between $208.26 and $192.90 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.

FANG is trading below resistance at $208.26, about 4% to the upside. There is support at $176.36 -12% to the downside. If it can break above the resistance, it could have some more upside. If the price starts to turn down and fails to get through this level or enters a yellow zone, we would consider profit taking or exiting the position. If it enters a red zone on the chart we would exit the position.

Upside / Downside Potential

Diamondback Energy Inc $FANG entered a Green zone 46 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $180.5, a potential down side of -10.27% from the recent price of 201.15. Our AI powered stock target predictor currently has a target price of $322.07 a potential move of 60%. The stock is trading 5.37% (potential upside) below its 52 week high of $211.96 and 70.29 % (potential downside) above its 52 week low of $118.12 - based on the recent price.

Company Summary

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

FANG Website

News

Buy 11 MediaMade April ProActive Dividend Dogs
On April 1, 2024, Barron's, Bloomberg, and Kiplinger analysts listed four sets of stocks here-named ProActive for 2024. Those four articles revealed 28 equities, with 24 paying-dividends. The four ProActive lists focused on 5 ‘infrastructure' companies from Barron's along-with 8 selected "best" and 5 "best cheap" stocks from Kiplinger and "10 to watch" from Bloomberg. For April, those 28 top ProActive stocks ranged 0.23% to 13.28% in annual-yield and ranged -39.1% to 53.70% in one-year price-target-upsides per broker-analysts.
Source: Seeking Alpha
Wed, 17 Apr 2024 16:27:46 -0400
Sentiment: Positive
Black Gold Boom: 3 Oil Stocks Primed to Pump as Prices Peak
Geopolitical tensions in the Middle East pushed the price of crude oil to a six-month high last week. Naturally, investor interest in oil stocks has increased significantly recently, boosting the sector to the second-best market performer.
Source: InvestorPlace
Wed, 17 Apr 2024 15:00:00 -0400
Sentiment: Positive
April Price Target Hikes: These 3 Stocks Have Analysts Excited
It's tough to puff your chest out and invest in the stock market lately. The stock market has slowed down in the past month, delivering negative returns.
Source: InvestorPlace
Wed, 17 Apr 2024 12:07:21 -0400
Sentiment: Positive
US Oil & Gas Drilling Rig Tally Falls: Here's What it Means
In its weekly release, Baker Hughes (BKR) reports that the total count of rigs in the United States decreased, reflecting a slowdown in drilling activities.
Source: Zacks Investment Research
Wed, 17 Apr 2024 09:16:10 -0400
Sentiment: Negative
3 Oil & Gas Stocks to Buy Now: Q2 Edition
The global oil and gas market is valued at $7.62 trillion and is projected to reach $9.34 trillion in 2028, representing a CAGR of 5.2%. Critical components of this rapid growth include modernization, urbanization and geopolitical tensions spiking oil prices.
Source: InvestorPlace
Wed, 17 Apr 2024 06:05:00 -0400
Sentiment: Positive
Instituions Institution %: 93.639
Last QTR Institution change: 7298477

Insiders
Insiders %: 0.593
Insiders Purchases last QTR: 0
Insiders Sales last QTR: 117293
Insiders Net last QTR: -117293

Analyst Ratings
Target Price: 180.5
Overall Rating: 4.3846
Strong Buys (5): 15
Buys (4): 7
Holds (3): 3
Sells (2): 1
Strong Sells (1): 0

Technicals
52 Week Hi: 211.96
52 Week Low: 118.1189
Beta: 1.922
50 Day MA: 185.4836
200 Day MA: 160.5454

Earnings / Revenue Trends
Qtr Earnings Growth YOY: -0.051
Qtr Revenue Growth YOY: 0.113
Forward PE: 11.5207
Trailing PE: 11.7618

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