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) Stock Moves -0.34%: What You Should Know
Read MoreHide Full Article
Diamondback Energy (FANG - Free Report) closed at $125.39 in the latest trading session, marking a -0.34% move from the prior day. This change was narrower than the S&P 500's 2.82% loss on the day. Elsewhere, the Dow lost 2.38%, while the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the energy exploration and production company had lost 10.58% in the past month. In that same time, the Oils-Energy sector lost 6.31%, while the S&P 500 lost 5.33%.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2022. In that report, analysts expect Diamondback Energy to post earnings of $4.93 per share. This would mark year-over-year growth of 114.35%. Our most recent consensus estimate is calling for quarterly revenue of $1.92 billion, up 62.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $23.94 per share and revenue of $8.99 billion. These totals would mark changes of +109.45% and +32.28%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 18.77% higher within the past month. Diamondback Energy is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Diamondback Energy has a Forward P/E ratio of 5.26 right now. This valuation marks a premium compared to its industry's average Forward P/E of 5.25.
Meanwhile, FANG's PEG ratio is currently 0.24. 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 0.24 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 5, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Diamondback Energy (FANG) Stock Moves -0.34%: What You Should Know
Diamondback Energy (FANG - Free Report) closed at $125.39 in the latest trading session, marking a -0.34% move from the prior day. This change was narrower than the S&P 500's 2.82% loss on the day. Elsewhere, the Dow lost 2.38%, while the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the energy exploration and production company had lost 10.58% in the past month. In that same time, the Oils-Energy sector lost 6.31%, while the S&P 500 lost 5.33%.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2022. In that report, analysts expect Diamondback Energy to post earnings of $4.93 per share. This would mark year-over-year growth of 114.35%. Our most recent consensus estimate is calling for quarterly revenue of $1.92 billion, up 62.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $23.94 per share and revenue of $8.99 billion. These totals would mark changes of +109.45% and +32.28%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 18.77% higher within the past month. Diamondback Energy is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Diamondback Energy has a Forward P/E ratio of 5.26 right now. This valuation marks a premium compared to its industry's average Forward P/E of 5.25.
Meanwhile, FANG's PEG ratio is currently 0.24. 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 0.24 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 5, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.