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Diamondback Energy (FANG) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, Diamondback Energy (FANG - Free Report) reached $168.50, with a -1.74% movement compared to the previous day. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.17%.
Heading into today, shares of the energy exploration and production company had lost 12.57% over the past month, lagging the Oils-Energy sector's loss of 4.22% and the S&P 500's gain of 2.92% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Diamondback Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $4.85, showcasing a 11.66% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.25 billion, indicating a 3.98% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.15 per share and revenue of $9.44 billion. These totals would mark changes of +6.33% and +12.24%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.07% higher. Currently, Diamondback Energy is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 8.95. This expresses a discount compared to the average Forward P/E of 9.35 of its industry.
We can additionally observe that FANG currently boasts a PEG ratio of 1.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 1.15 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 216, this industry ranks in the bottom 15% of all industries, numbering over 250.
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.
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 Drops Despite Market Gains: Important Facts to Note
In the latest market close, Diamondback Energy (FANG - Free Report) reached $168.50, with a -1.74% movement compared to the previous day. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.17%.
Heading into today, shares of the energy exploration and production company had lost 12.57% over the past month, lagging the Oils-Energy sector's loss of 4.22% and the S&P 500's gain of 2.92% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Diamondback Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $4.85, showcasing a 11.66% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.25 billion, indicating a 3.98% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.15 per share and revenue of $9.44 billion. These totals would mark changes of +6.33% and +12.24%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.07% higher. Currently, Diamondback Energy is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 8.95. This expresses a discount compared to the average Forward P/E of 9.35 of its industry.
We can additionally observe that FANG currently boasts a PEG ratio of 1.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 1.15 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 216, this industry ranks in the bottom 15% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.