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Diamondback Energy, Inc. (FANG)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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127.46+4.32 (+3.51%)
As of 10:19AM EDT. Market open.
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  • R
    Ryan
    Ex-dividend date is 8/15. Only 4 more days to get to receive the $3.05 per share dividend.
  • L
    Lime
    Europe records the busiest road traffic ever caused by overcrowded airports, yet media keeps pushing their ‘oil falling on demand worries’ narrative 🤣
    Bullish
  • C
    Citizen
    $DVN conversation
    You know what I like about stock buybacks ? It sets up the companies for the longer term to keep high dividend payouts even when prices could be lower in the future (but more likely to have even higher payouts when prices don't go lower). The most likely is that their share prices go up to make the dividend yield seem reasonable again relative to any other dividend paying asset class out there. This is a win win situation .....

    $DVN $FANG $EOG $PXD $CHK $AR $LPI $PDCE $OVV
  • R
    Ryan
    FANG must be working hard on those buybacks. Unfortunately I fear what happens when they stop? Save some dry power FANG. You know they're going to try take it down again.
  • R
    Robert
    200-day moving average taken out with authority…nice…50-day up next later this week if not today
    Bullish
  • B
    Barry
    We need to break $130 to really get a rally going.
  • R
    Robert
    US gas prices will jump back to $4.35 soon because supplies are running low, Goldman Sachs says
    Harry Robertson
    Mon, August 8, 2022, 4:02 AM
    US gas prices
    US gas prices have cooled off sharply over the last month.

    US gas prices will jump back to $4.35 a gallon and will average $4.40 in 2023, Goldman Sachs has predicted.

    Gas prices have fallen sharply after topping $5 a gallon in June, with the average price standing at $4.059 on Monday.

    However, Goldman said oil and gasoline prices are likely to pick up because supplies remain tight and demand is relatively strong.

    Goldman Sachs has predicted the cost of US gas at the pump will jump back to around $4.35 a gallon by the end of the year, and then reach an average of $4.40 next year, as supply shortages push up prices.

    Gas prices have fallen dramatically over the past month or so after topping $5 a gallon in June, as oil prices have fallen and bottlenecks at refineries have eased. The AAA said the average price was $4.059 a gallon on Monday.

    But Goldman said in a note Sunday it expects oil prices to pick up from here, after sharp falls in recent weeks. That's because supplies are still running low, while global demand has remained relatively strong.

    Goldman's analysts, led by Damien Courvalin, said they think fuel demand from US drivers will rise after showing signs of slowing over the past month. And they said they expect more congestion at oil refineries — for example, from the coming fall maintenance season — to limit supply.

    The bank now expects US gas prices to reach an average of $4.35 a gallon by the fourth quarter of 2022, a roughly 7% rise from current levels.

    Prices will then pick up to an average of $4.40 for the whole of 2023, peaking at around $4.53 a gallon in the second quarter of next year, its analysts forecast.

    "We forecast that US retail fuel prices will rally into year-end then decline from 2Q23 onward as refining and marketing margins start to normalize," Courvalin and colleagues wrote.

    Oil prices have fallen sharply as traders have bet on a sharp slowdown in global growth and the demand for fuel. WTI crude, the US benchmark, traded at $88.37 a barrel Monday, down around 15% in a month.

    Goldman on Sunday lowered its oil price forecasts in turn, but said it still expects prices to rebound somewhat, as supply remains tight.

    The bank now foresees WTI crude rising to $105 a barrel in the third quarter, down from $137 previously. But it expects prices to hit $125 in the first quarter of next year.

    "Our updated fundamental forecasts point to continued disappointments in supply, with demand instead supported by the still ongoing COVID reopening and gas-to-oil substitution," Goldman said.

    "This requires demand destruction on top of the ongoing economic slowdown, requiring high retail fuel prices to end the market deficit."
  • D
    DANIEL
    $OXY conversation
    Gary Simmons, Chief Commercial Officer at refining giant Valero: "I can tell you, through our wholesale channel, there is really no indication of any demand destruction... In June, we actually set sales records. We read a lot about demand destruction and mobility data showing in that range of 3% to 5% demand destruction. Again, we're not seeing it in our system."

    https://www.zerohedge.com/commodities/very-crooked-numbers-biden-admin-accused-fabricating-gas-demand-data-hammer-price-oil

    $XOM $CVX $COP $CPE $LPI $FANG $APA
    Bullish
  • n
    nick
    The number of oil rigs, an early indicator of future output, fell seven to 598 in the week to Aug. 5, the first weekly decline in 10 weeks, energy services firm Baker Hughes Co (BKR.O) said in its closely followed report on Friday. , ,
  • n
    n
    Wichita Falls Times Record News
    Sat, August 6, 2022 at 12:00 AM
    OPEC warns of severely limited excess capacity of oil
    The shortfall of global oil supplies sent prices up more than 50% this year, and the group of oil exporting countries warned this week the shortage probably will continue beyond 2023.
    OPEC noted that “preliminary data for OECD commercial oil stocks level stood at 2,712 million barrels in June 2022, which was 163 million barrels lower than the same time last year, and 236 million barrels below the 2015-2019 average, and that emergency oil stocks have reached their lowest levels in more than 30 years.”
  • G
    Gary
    Will Brandon refill SPR? Sure he will, with Russian discounted oil, a hellofa lot cheaaper than supporting the businesses here at home!
  • B
    Barry
    Know some on this site also own DVN. They just bought a large field from Validus for $1.8 billion.
  • p
    przyborski
    Just heard that FANG got alerted at (http://market-engross.club). I hope it pushes us higher!
  • G
    Gary
    Yesterday I went by the local convenience store here in SW Missouri and the TA Travel Center, 24 pumps total and only 2 were idle....DD?..don't #$%$ down my leg and tell me it's raining!
  • C
    Coach
    on the TD Ameritrade platform Benzinger analyst offer the opinion why FANG is moving down . The analyst attributes this downward move today to the price of oil going down. Me tinks this analyst does not understand that this particular company can profit even if p/p barrel plummets to $60. He did not do his DD or doesn't understand FANG or he is afraid to say oil will be around a bit longer and there is money to be made.
  • P
    Petroleum Economist
    Diamondback Q2 results were excellent. Almost everything in Q2 was better or higher than guidance/expectations. Diamondback deserves a substantial higher share price than the current $ 125.92, which is only 5.0-5.9 times the eps between 2022-2024, whilst returning an unique 4.8% (share buyback) + 9.5% (dividend) = total 14.3% to its shareholders.

    PRODUCTION
    Production in Q2 was a good 380.5 K BoE/d, up 2% versus the midpoint of the guidance of 369-376 K BoE/d. Guidance for full 2022 was increased by 2% from 369-376 K BoE/d to 374-380 K BoE/d.

    PROFITABILITY
    Diamondback is a very profitable company. The net profit in Q2 was $ 1.4 B (incl $ 101M hedging losses). With hedging losses further reducing in Q3/4 I would expect Diamond back to make a 2022 profit of $ 4.535 B, This equivalent to an eps of $ 25.70 and a price/earnings ratio of 5.0. The eps in 2023/2024 may be a bit lower due to lower energy prices, partially compensated by reduced hedging losses, but I expect is to remain in the range of $ 21.00-24,50.

    The solvability (=equity/balance total) of Diamond back increased in H1 2022 from 57.8% to 61.4%. This is amongst the best in industry, suggesting Diamond can easily afford the return of cash to shareholders,

    BUYBACKS AND DIVIDENDS
    Diamondback is rewarding its shareholders as one of the best in industry. Diamondback free cash flow in Q2 was $ 1.3 B. With this Diamondback bought back in Q2 $ 500 M of its shares. The total share buyback authorised was increased in Q2 by the board from $ 2.0 B to $ 4.0 B. Assuming $ 2.0 B of the share buyback will happen in 2022, this is equivalent to a yield of 4.8% to shareholders.

    Diamondback interim dividend in Q2 was set at an impressive $ 0.75 (variable) + $ 2.30 (variable) = $ 3.05. This is equivalent to a dividend yield of 9.5%.

    Total shareholder returns in 2022 therefore can be 4.8+9.5=14.3%, higher than any other US oil and gas company.
  • R
    Ryan
    Everyone now KNOWS the oil data from EIA has been manipulated. But does anyone do anything about it? Nah. Will the President be asked about this? Nah. IMO Wall Street was complicit in it as they seemed to know to sell out of the sector at just the right time, how about that? The market is indeed rigged. Fundamentals will eventually win, but meanwhile the manipulation is doing real damage to these companies' expected earnings. Like the saying goes, the market can remain irrational longer than you can stay solvent. I don't expect to see anything different in this week's EIA report.
  • D
    Dylan
    Remember less than a month ago this was at $104……don’t read short term swings
  • C
    Citizen
    $DVN conversation
    If you are long Oil and Gas stocks then these low prices are good for the buybacks, dividend reinvestment etc ...... This is by far the cheapest sector right now to invest in and if you are looking for yield you got it in bucketloads ..... $DVN $FANG $PXD $LPI $ESTE $CHK $AR $EOG $OVV
  • D
    Dylan
    4billion worth of buy backs. Mngmnt sees this stock as undervalued and putting money where mouth is. Low sp buy backs, high sp dividends…… profit at ~$40 a barrel…………we are in good hands
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