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Diamondback Energy (FANG) Stock Moves -0.12%: What You Should Know
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $129.67, marking a -0.12% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.12%. At the same time, the Dow lost 1.78%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the energy exploration and production company had gained 3.27% in the past month. In that same time, the Oils-Energy sector gained 3.82%, while the S&P 500 lost 3.91%.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2022. In that report, analysts expect Diamondback Energy to post earnings of $3.38 per share. This would mark year-over-year growth of 312.2%. Our most recent consensus estimate is calling for quarterly revenue of $1.67 billion, up 116.64% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. Within the past 30 days, our consensus EPS projection has moved 9.95% higher. Diamondback Energy is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 6.82. This valuation marks a premium compared to its industry's average Forward P/E of 6.03.
Investors should also note that FANG has a PEG ratio of 0.31 right now. 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 0.26 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.
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Diamondback Energy (FANG) Stock Moves -0.12%: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $129.67, marking a -0.12% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.12%. At the same time, the Dow lost 1.78%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the energy exploration and production company had gained 3.27% in the past month. In that same time, the Oils-Energy sector gained 3.82%, while the S&P 500 lost 3.91%.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2022. In that report, analysts expect Diamondback Energy to post earnings of $3.38 per share. This would mark year-over-year growth of 312.2%. Our most recent consensus estimate is calling for quarterly revenue of $1.67 billion, up 116.64% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
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. Within the past 30 days, our consensus EPS projection has moved 9.95% higher. Diamondback Energy is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 6.82. This valuation marks a premium compared to its industry's average Forward P/E of 6.03.
Investors should also note that FANG has a PEG ratio of 0.31 right now. 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 0.26 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.