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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 $88.28, moving -1.52% from the previous trading session. This change lagged the S&P 500's 0.18% loss on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 12.33% over the past month. This has outpaced the Oils-Energy sector's gain of 5.12% and the S&P 500's gain of 0.04% in that time.
Investors will be hoping for strength from FANG as it approaches its next earnings release. The company is expected to report EPS of $2.14, up 1326.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.32 billion, up 211.04% from the year-ago period.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $8.61 per share and revenue of $4.86 billion. These results would represent year-over-year changes of +183.22% and +72.8%, respectively.
Any recent changes to analyst estimates for FANG should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 4.48% higher. FANG is currently a Zacks Rank #3 (Hold).
Digging into valuation, FANG currently has a Forward P/E ratio of 10.41. This represents a discount compared to its industry's average Forward P/E of 11.28.
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 101, putting it in the top 40% 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.
To follow FANG in the coming trading sessions, be sure to utilize 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 $88.28, moving -1.52% from the previous trading session. This change lagged the S&P 500's 0.18% loss on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 12.33% over the past month. This has outpaced the Oils-Energy sector's gain of 5.12% and the S&P 500's gain of 0.04% in that time.
Investors will be hoping for strength from FANG as it approaches its next earnings release. The company is expected to report EPS of $2.14, up 1326.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.32 billion, up 211.04% from the year-ago period.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $8.61 per share and revenue of $4.86 billion. These results would represent year-over-year changes of +183.22% and +72.8%, respectively.
Any recent changes to analyst estimates for FANG should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 4.48% higher. FANG is currently a Zacks Rank #3 (Hold).
Digging into valuation, FANG currently has a Forward P/E ratio of 10.41. This represents a discount compared to its industry's average Forward P/E of 11.28.
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 101, putting it in the top 40% 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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.