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Has Diamondback Energy (FANG) Outpaced Other Oils-Energy Stocks This Year?
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Investors focused on the Oils-Energy space have likely heard of Diamondback Energy (FANG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Diamondback Energy is one of 257 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FANG's full-year earnings has moved 50.53% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, FANG has returned 17.33% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 10.06% on average. This means that Diamondback Energy is outperforming the sector as a whole this year.
To break things down more, FANG belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 51 individual companies and currently sits at #115 in the Zacks Industry Rank. This group has gained an average of 19.89% so far this year, so FANG is slightly underperforming its industry in this area.
Investors with an interest in Oils-Energy stocks should continue to track FANG. The stock will be looking to continue its solid performance.
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Has Diamondback Energy (FANG) Outpaced Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of Diamondback Energy (FANG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Diamondback Energy is one of 257 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FANG's full-year earnings has moved 50.53% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, FANG has returned 17.33% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 10.06% on average. This means that Diamondback Energy is outperforming the sector as a whole this year.
To break things down more, FANG belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 51 individual companies and currently sits at #115 in the Zacks Industry Rank. This group has gained an average of 19.89% so far this year, so FANG is slightly underperforming its industry in this area.
Investors with an interest in Oils-Energy stocks should continue to track FANG. The stock will be looking to continue its solid performance.