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 Slides as Market Rises: Facts to Know Before You Trade
Read MoreHide Full Article
The latest trading session saw Diamondback Energy (FANG - Free Report) ending at $189.22, denoting a -0.78% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.15%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.17%.
Shares of the energy exploration and production company witnessed a loss of 6.6% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 1.23% and the S&P 500's gain of 3.2%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. In that report, analysts expect Diamondback Energy to post earnings of $4.80 per share. This would mark year-over-year growth of 30.43%. Simultaneously, our latest consensus estimate expects the revenue to be $2.27 billion, showing a 18.17% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.10 per share and revenue of $9.25 billion. These totals would mark changes of +6.05% and +10%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.82% increase. At present, Diamondback Energy boasts a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 9.98. This indicates a premium in contrast to its industry's Forward P/E of 9.3.
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 159, putting it in the bottom 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many 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 Slides as Market Rises: Facts to Know Before You Trade
The latest trading session saw Diamondback Energy (FANG - Free Report) ending at $189.22, denoting a -0.78% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.15%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.17%.
Shares of the energy exploration and production company witnessed a loss of 6.6% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 1.23% and the S&P 500's gain of 3.2%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. In that report, analysts expect Diamondback Energy to post earnings of $4.80 per share. This would mark year-over-year growth of 30.43%. Simultaneously, our latest consensus estimate expects the revenue to be $2.27 billion, showing a 18.17% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.10 per share and revenue of $9.25 billion. These totals would mark changes of +6.05% and +10%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.82% increase. At present, Diamondback Energy boasts a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 9.98. This indicates a premium in contrast to its industry's Forward P/E of 9.3.
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 159, putting it in the bottom 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.