FANG Stock Summary and Trading Ideas (Diamondback Energy | NASDAQ:FANG)

Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2023, the company reported net proven reserves of 2.2 billion barrels of oil equivalent. Net production averaged about 448,000 barrels per day in 2023, at a ratio of 59% oil, 21% natural gas liquids, and 20% natural gas.

Diamondback Energy trades on the NASDAQ stock market under the symbol FANG.

As of April 19, 2024, FANG stock price climbed to $201.25 with 780,757 million shares trading.

FANG has a beta of 0.34, meaning it tends to be less sensitive to market movements. FANG has a correlation of 0.02 to the broad based SPY ETF.

FANG has a market cap of $35.91 billion. This is considered a Large Cap stock.

Last quarter Diamondback Energy reported $2 billion in Revenue and $4.74 earnings per share. This beat revenue expectation by $58 million and exceeded earnings estimates by $.08.

In the last 3 years, FANG stock traded as high as $211.96 and as low as $65.93.

The top ETF exchange traded funds that FANG belongs to (by Net Assets): VTI, VOO, XLE, VO, QQQ.

FANG has outperformed the market in the last year with a price return of +44.7% while the SPY ETF gained +21.2%. FANG has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +36.5% and +0.1%, respectively, while the SPY returned +4.3% and -3.4%, respectively.

FANG support price is $197.21 and resistance is $201.99 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FANG stock will trade within this expected range on the day.