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Monday, October 19, 2020

Diamondback Energy Inc. (NASDAQ:FANG) is Gaining Momentum on Earnings Catalyst

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Diamondback Energy Inc. (FANG) shares are trading at lower $30.41 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $96.92 and the low is $14.55. Over the last 52 weeks, FANG is down -63.78% while the S&P 500 is up 18.31%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, FANG reported a profit of $-2.67 billion. Diamondback Energy Inc. also saw revenues decrease to $425.0 million. In addition, FANG has free cash flow of -$179.0 million as of 06-2020. The company’s EBITDA came in at -$2.33 billion which compares well with its peers.

FANG booked profit margins of -81.80%, its Return on Equity (ROE) is -21.90%, and its Return on Assets is -12.30%. All told, it is clear that, FANG needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FANG has a short ratio of 3.31 and outstanding shares of 157.83M.

Company Outlook

FANG has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.73 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -18.76. Diamondback Energy Inc. FANG also noted assets of $20.34 billion at the end of the last quarter. Investors should also keep an eye on sector updates as FANG has historically followed its peers on positive news.

All told, Diamondback Energy Inc. FANG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FANG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Diamondback Energy Inc. FANG is now commanding a market cap of 4.87B and a float of 156.40M. FANG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FANG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in FANG, either long or short, and we have not been compensated for this article.

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