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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $137.92, marking a -1.49% move from the previous day. This change lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Coming into today, shares of the energy exploration and production company had gained 0.09% in the past month. In that same time, the Oils-Energy sector gained 9.22%, while the S&P 500 lost 1.42%.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2022. On that day, Diamondback Energy is projected to report earnings of $4.84 per share, which would represent year-over-year growth of 110.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.9 billion, up 60.67% from the year-ago period.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $22.47 per share and revenue of $8.2 billion. These results would represent year-over-year changes of +96.59% and +20.68%, respectively.
It is also important to note the recent changes to analyst estimates for Diamondback Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 13.99% higher. Diamondback Energy is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 6.23. This valuation marks a discount compared to its industry's average Forward P/E of 6.91.
Investors should also note that FANG has a PEG ratio of 0.28 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.29 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 11, which puts it in the top 5% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $137.92, marking a -1.49% move from the previous day. This change lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Coming into today, shares of the energy exploration and production company had gained 0.09% in the past month. In that same time, the Oils-Energy sector gained 9.22%, while the S&P 500 lost 1.42%.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2022. On that day, Diamondback Energy is projected to report earnings of $4.84 per share, which would represent year-over-year growth of 110.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.9 billion, up 60.67% from the year-ago period.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $22.47 per share and revenue of $8.2 billion. These results would represent year-over-year changes of +96.59% and +20.68%, respectively.
It is also important to note the recent changes to analyst estimates for Diamondback Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 13.99% higher. Diamondback Energy is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 6.23. This valuation marks a discount compared to its industry's average Forward P/E of 6.91.
Investors should also note that FANG has a PEG ratio of 0.28 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.29 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 11, which puts it in the top 5% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.