We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Diamondback Energy (FANG) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $129.82, moving +1.52% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the energy exploration and production company had gained 1.54% over the past month. This has lagged the Oils-Energy sector's gain of 2.92% and outpaced the S&P 500's loss of 4.02% in that time.
Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. This is expected to be February 22, 2022. In that report, analysts expect Diamondback Energy to post earnings of $3.38 per share. This would mark year-over-year growth of 312.2%. Our most recent consensus estimate is calling for quarterly revenue of $1.67 billion, up 116.64% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.95% higher. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 6.72. This represents a premium compared to its industry's average Forward P/E of 5.9.
We can also see that FANG currently has a PEG ratio of 0.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.25 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Diamondback Energy (FANG) Outpaces Stock Market Gains: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $129.82, moving +1.52% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the energy exploration and production company had gained 1.54% over the past month. This has lagged the Oils-Energy sector's gain of 2.92% and outpaced the S&P 500's loss of 4.02% in that time.
Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. This is expected to be February 22, 2022. In that report, analysts expect Diamondback Energy to post earnings of $3.38 per share. This would mark year-over-year growth of 312.2%. Our most recent consensus estimate is calling for quarterly revenue of $1.67 billion, up 116.64% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.95% higher. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 6.72. This represents a premium compared to its industry's average Forward P/E of 5.9.
We can also see that FANG currently has a PEG ratio of 0.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.25 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.