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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
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Diamondback Energy (FANG - Free Report) closed at $138.73 in the latest trading session, marking a -1.4% move from the prior day. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Coming into today, shares of the energy exploration and production company had gained 1.88% in the past month. In that same time, the Oils-Energy sector gained 7.99%, while the S&P 500 gained 4.69%.
Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. In that report, analysts expect Diamondback Energy to post earnings of $4.70 per share. This would mark year-over-year growth of 104.35%. Our most recent consensus estimate is calling for quarterly revenue of $1.84 billion, up 55.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $20.16 per share and revenue of $7.63 billion. These totals would mark changes of +76.38% and +12.19%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.2% higher. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 6.98. This represents a premium compared to its industry's average Forward P/E of 6.51.
Also, we should mention that FANG has a PEG ratio of 0.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FANG's industry had an average PEG ratio of 0.32 as of yesterday's close.
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 69, putting it in the top 28% 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.
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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
Diamondback Energy (FANG - Free Report) closed at $138.73 in the latest trading session, marking a -1.4% move from the prior day. This move lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Coming into today, shares of the energy exploration and production company had gained 1.88% in the past month. In that same time, the Oils-Energy sector gained 7.99%, while the S&P 500 gained 4.69%.
Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. In that report, analysts expect Diamondback Energy to post earnings of $4.70 per share. This would mark year-over-year growth of 104.35%. Our most recent consensus estimate is calling for quarterly revenue of $1.84 billion, up 55.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $20.16 per share and revenue of $7.63 billion. These totals would mark changes of +76.38% and +12.19%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.2% higher. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 6.98. This represents a premium compared to its industry's average Forward P/E of 6.51.
Also, we should mention that FANG has a PEG ratio of 0.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FANG's industry had an average PEG ratio of 0.32 as of yesterday's close.
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 69, putting it in the top 28% 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.