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Diamondback Energy (FANG) Stock Moves -0.53%: What You Should Know
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $90.37, moving -0.53% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.54%.
Prior to today's trading, shares of the energy exploration and production company had gained 13.56% over the past month. This has outpaced the Oils-Energy sector's gain of 5.44% and the S&P 500's gain of 1.91% in that time.
FANG will be looking to display strength as it nears its next earnings release. In that report, analysts expect FANG to post earnings of $2.14 per share. This would mark year-over-year growth of 1326.67%. Meanwhile, our latest consensus estimate is calling for revenue of $1.32 billion, up 211.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.61 per share and revenue of $4.86 billion, which would represent changes of +183.22% and +72.8%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for FANG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.48% higher. FANG currently has a Zacks Rank of #3 (Hold).
Investors should also note FANG's current valuation metrics, including its Forward P/E ratio of 10.55. This valuation marks a discount compared to its industry's average Forward P/E of 11.8.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Diamondback Energy (FANG) Stock Moves -0.53%: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $90.37, moving -0.53% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.54%.
Prior to today's trading, shares of the energy exploration and production company had gained 13.56% over the past month. This has outpaced the Oils-Energy sector's gain of 5.44% and the S&P 500's gain of 1.91% in that time.
FANG will be looking to display strength as it nears its next earnings release. In that report, analysts expect FANG to post earnings of $2.14 per share. This would mark year-over-year growth of 1326.67%. Meanwhile, our latest consensus estimate is calling for revenue of $1.32 billion, up 211.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.61 per share and revenue of $4.86 billion, which would represent changes of +183.22% and +72.8%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for FANG. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.48% higher. FANG currently has a Zacks Rank of #3 (Hold).
Investors should also note FANG's current valuation metrics, including its Forward P/E ratio of 10.55. This valuation marks a discount compared to its industry's average Forward P/E of 11.8.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.