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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $73.80, marking a -0.79% move from the previous day. This move lagged the S&P 500's daily gain of 0.52%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.12%.
Prior to today's trading, shares of the energy exploration and production company had gained 0.8% over the past month. This has outpaced the Oils-Energy sector's loss of 2.52% and the S&P 500's loss of 0.76% in that time.
Wall Street will be looking for positivity from FANG as it approaches its next earnings report date. On that day, FANG is projected to report earnings of $1.31 per share, which would represent a year-over-year decline of 9.66%. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 16.03% higher. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, FANG is holding a Forward P/E ratio of 11.52. This valuation marks a premium compared to its industry's average Forward P/E of 11.41.
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 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Sinks As Market Gains: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $73.80, marking a -0.79% move from the previous day. This move lagged the S&P 500's daily gain of 0.52%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.12%.
Prior to today's trading, shares of the energy exploration and production company had gained 0.8% over the past month. This has outpaced the Oils-Energy sector's loss of 2.52% and the S&P 500's loss of 0.76% in that time.
Wall Street will be looking for positivity from FANG as it approaches its next earnings report date. On that day, FANG is projected to report earnings of $1.31 per share, which would represent a year-over-year decline of 9.66%. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 16.03% higher. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, FANG is holding a Forward P/E ratio of 11.52. This valuation marks a premium compared to its industry's average Forward P/E of 11.41.
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 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.