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Diamondback Energy (FANG) Stock Moves -0.1%: What You Should Know
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Diamondback Energy (FANG - Free Report) closed at $198.08 in the latest trading session, marking a -0.1% move from the prior day. This change was narrower than the S&P 500's 0.5% loss on the day. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Shares of the energy exploration and production company have depreciated by 2.67% over the course of the past month, outperforming the Oils-Energy sector's loss of 10.92% and lagging the S&P 500's gain of 0.1%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. The company plans to announce its earnings on August 5, 2024. The company's earnings per share (EPS) are projected to be $4.46, reflecting a 21.2% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.18 billion, indicating a 13.49% increase compared to the same quarter of the previous year.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $18.63 per share and revenue of $9.16 billion. These results would represent year-over-year changes of +3.44% and +8.93%, respectively.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 moved 2.23% lower. Diamondback Energy is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 10.64. This signifies a premium in comparison to the average Forward P/E of 10.22 for its industry.
We can also see that FANG currently has a PEG ratio of 1.06. 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. FANG's industry had an average PEG ratio of 0.98 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 199, this industry ranks in the bottom 22% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Diamondback Energy (FANG) Stock Moves -0.1%: What You Should Know
Diamondback Energy (FANG - Free Report) closed at $198.08 in the latest trading session, marking a -0.1% move from the prior day. This change was narrower than the S&P 500's 0.5% loss on the day. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Shares of the energy exploration and production company have depreciated by 2.67% over the course of the past month, outperforming the Oils-Energy sector's loss of 10.92% and lagging the S&P 500's gain of 0.1%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. The company plans to announce its earnings on August 5, 2024. The company's earnings per share (EPS) are projected to be $4.46, reflecting a 21.2% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.18 billion, indicating a 13.49% increase compared to the same quarter of the previous year.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $18.63 per share and revenue of $9.16 billion. These results would represent year-over-year changes of +3.44% and +8.93%, respectively.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 moved 2.23% lower. Diamondback Energy is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 10.64. This signifies a premium in comparison to the average Forward P/E of 10.22 for its industry.
We can also see that FANG currently has a PEG ratio of 1.06. 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. FANG's industry had an average PEG ratio of 0.98 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 199, this industry ranks in the bottom 22% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.