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 Moves -0.56%: What You Should Know
Read MoreHide Full Article
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $142.74, moving -0.56% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Prior to today's trading, shares of the energy exploration and production company had gained 4.69% over the past month. This has outpaced the Oils-Energy sector's gain of 2.96% and the S&P 500's loss of 1.28% in that time.
Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. On that day, Diamondback Energy is projected to report earnings of $5.27 per share, which would represent year-over-year growth of 1.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.18 billion, down 9.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $23.09 per share and revenue of $9.28 billion, which would represent changes of -3.87% and -3.72%, respectively, from the prior year.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 3.49% lower. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 6.22. For comparison, its industry has an average Forward P/E of 6.12, which means Diamondback Energy is trading at a premium to the group.
Investors should also note that FANG has a PEG ratio of 0.28 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.3 at yesterday's closing price.
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 231, which puts it in the bottom 9% of all 250+ industries.
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.
To follow FANG in the coming trading sessions, be sure to utilize 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 Moves -0.56%: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $142.74, moving -0.56% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Prior to today's trading, shares of the energy exploration and production company had gained 4.69% over the past month. This has outpaced the Oils-Energy sector's gain of 2.96% and the S&P 500's loss of 1.28% in that time.
Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. On that day, Diamondback Energy is projected to report earnings of $5.27 per share, which would represent year-over-year growth of 1.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.18 billion, down 9.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $23.09 per share and revenue of $9.28 billion, which would represent changes of -3.87% and -3.72%, respectively, from the prior year.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 3.49% lower. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 6.22. For comparison, its industry has an average Forward P/E of 6.12, which means Diamondback Energy is trading at a premium to the group.
Investors should also note that FANG has a PEG ratio of 0.28 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.3 at yesterday's closing price.
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 231, which puts it in the bottom 9% of all 250+ industries.
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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.