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Diamondback Energy (FANG) Dips More Than Broader Markets: What You Should Know
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $82.76, moving -1.72% from the previous trading session. This move lagged the S&P 500's daily loss of 1.04%.
Prior to today's trading, shares of the energy exploration and production company had gained 11.98% over the past month. This has outpaced the Oils-Energy sector's gain of 7.07% and the S&P 500's gain of 3.83% in that time.
In that report, analysts expect FANG to post earnings of $2.13 per share. This would mark year-over-year growth of 1320%. Meanwhile, our latest consensus estimate is calling for revenue of $1.32 billion, up 210.06% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.21 per share and revenue of $4.85 billion, which would represent changes of +170.07% and +72.49%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for FANG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 11.06% higher. FANG currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that FANG has a Forward P/E ratio of 10.26 right now. For comparison, its industry has an average Forward P/E of 9.42, 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 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Diamondback Energy (FANG) Dips More Than Broader Markets: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $82.76, moving -1.72% from the previous trading session. This move lagged the S&P 500's daily loss of 1.04%.
Prior to today's trading, shares of the energy exploration and production company had gained 11.98% over the past month. This has outpaced the Oils-Energy sector's gain of 7.07% and the S&P 500's gain of 3.83% in that time.
In that report, analysts expect FANG to post earnings of $2.13 per share. This would mark year-over-year growth of 1320%. Meanwhile, our latest consensus estimate is calling for revenue of $1.32 billion, up 210.06% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.21 per share and revenue of $4.85 billion, which would represent changes of +170.07% and +72.49%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for FANG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 11.06% higher. FANG currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that FANG has a Forward P/E ratio of 10.26 right now. For comparison, its industry has an average Forward P/E of 9.42, 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 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.