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Diamondback Energy (FANG) Gains But Lags Market: What You Should Know
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $133.30, moving +0.38% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the energy exploration and production company had lost 8.18% over the past month, lagging the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 1.72% in that time.
Investors will be hoping for strength from Diamondback Energy as it approaches its next earnings release, which is expected to be May 1, 2023. In that report, analysts expect Diamondback Energy to post earnings of $4.79 per share. This would mark a year-over-year decline of 7.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.09 billion, down 13.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.14 per share and revenue of $8.9 billion. These totals would mark changes of -11.99% and -7.71%, respectively, from last year.
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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.43% lower. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 6.28. This valuation marks a premium compared to its industry's average Forward P/E of 6.27.
Investors should also note that FANG has a PEG ratio of 0.29 right now. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.33 based on yesterday's closing prices.
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 231, putting it in the bottom 9% 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.
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) Gains But Lags Market: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $133.30, moving +0.38% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the energy exploration and production company had lost 8.18% over the past month, lagging the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 1.72% in that time.
Investors will be hoping for strength from Diamondback Energy as it approaches its next earnings release, which is expected to be May 1, 2023. In that report, analysts expect Diamondback Energy to post earnings of $4.79 per share. This would mark a year-over-year decline of 7.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.09 billion, down 13.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $21.14 per share and revenue of $8.9 billion. These totals would mark changes of -11.99% and -7.71%, respectively, from last year.
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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.43% lower. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 6.28. This valuation marks a premium compared to its industry's average Forward P/E of 6.27.
Investors should also note that FANG has a PEG ratio of 0.29 right now. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.33 based on yesterday's closing prices.
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 231, putting it in the bottom 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.