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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
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Diamondback Energy (FANG - Free Report) closed at $81.41 in the latest trading session, marking a -0.83% move from the prior day. This change lagged the S&P 500's 0.29% gain on the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 0.4%.
Coming into today, shares of the energy exploration and production company had gained 21.95% in the past month. In that same time, the Oils-Energy sector gained 6.65%, while the S&P 500 gained 0.91%.
Wall Street will be looking for positivity from FANG as it approaches its next earnings report date. The company is expected to report EPS of $1.31, down 9.66% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $869.41 million, down 3.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.46 per share and revenue of $4.52 billion. These totals would mark changes of +112.5% and +60.55%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for FANG. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 18.87% higher. FANG is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, FANG currently has a Forward P/E ratio of 13.05. For comparison, its industry has an average Forward P/E of 12.49, which means FANG is trading at a premium to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
Diamondback Energy (FANG - Free Report) closed at $81.41 in the latest trading session, marking a -0.83% move from the prior day. This change lagged the S&P 500's 0.29% gain on the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 0.4%.
Coming into today, shares of the energy exploration and production company had gained 21.95% in the past month. In that same time, the Oils-Energy sector gained 6.65%, while the S&P 500 gained 0.91%.
Wall Street will be looking for positivity from FANG as it approaches its next earnings report date. The company is expected to report EPS of $1.31, down 9.66% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $869.41 million, down 3.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.46 per share and revenue of $4.52 billion. These totals would mark changes of +112.5% and +60.55%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for FANG. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 18.87% higher. FANG is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, FANG currently has a Forward P/E ratio of 13.05. For comparison, its industry has an average Forward P/E of 12.49, which means FANG is trading at a premium to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.