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Diamondback Energy (FANG) Outpaces Stock Market Gains: What You Should Know
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $84.34, moving +0.79% from the previous trading session. This change outpaced the S&P 500's 0.68% gain on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 13.87% over the past month. This has outpaced the Oils-Energy sector's loss of 0.85% and the S&P 500's gain of 5.41% in that time.
Wall Street will be looking for positivity from FANG as it approaches its next earnings report date. This is expected to be May 3, 2021. In that report, analysts expect FANG to post earnings of $1.87 per share. This would mark year-over-year growth of 28.97%. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, up 13.1% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.70 per share and revenue of $4.85 billion. These totals would mark changes of +153.29% and +72.26%, respectively, from last year.
Any recent changes to analyst estimates for FANG 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 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. The Zacks Consensus EPS estimate has moved 6.57% higher within the past month. FANG is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, FANG is currently trading at a Forward P/E ratio of 10.87. For comparison, its industry has an average Forward P/E of 9.73, 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 53, putting it in the top 21% 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) Outpaces Stock Market Gains: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $84.34, moving +0.79% from the previous trading session. This change outpaced the S&P 500's 0.68% gain on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 13.87% over the past month. This has outpaced the Oils-Energy sector's loss of 0.85% and the S&P 500's gain of 5.41% in that time.
Wall Street will be looking for positivity from FANG as it approaches its next earnings report date. This is expected to be May 3, 2021. In that report, analysts expect FANG to post earnings of $1.87 per share. This would mark year-over-year growth of 28.97%. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, up 13.1% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.70 per share and revenue of $4.85 billion. These totals would mark changes of +153.29% and +72.26%, respectively, from last year.
Any recent changes to analyst estimates for FANG 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 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. The Zacks Consensus EPS estimate has moved 6.57% higher within the past month. FANG is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, FANG is currently trading at a Forward P/E ratio of 10.87. For comparison, its industry has an average Forward P/E of 9.73, 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 53, putting it in the top 21% 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.