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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 the most recent trading day at $98.06, moving -1.55% from the previous trading session. This change lagged the S&P 500's 0.75% gain on the day.
Heading into today, shares of the energy exploration and production company had gained 15.12% over the past month, outpacing the Oils-Energy sector's gain of 2.47% and the S&P 500's gain of 2.91% 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 August 2, 2021. On that day, FANG is projected to report earnings of $2.19 per share, which would represent year-over-year growth of 1360%. 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 $8.96 per share and revenue of $5 billion. These results would represent year-over-year changes of +194.74% and +77.67%, respectively.
Investors might also notice recent changes to analyst estimates for FANG. These revisions help to show the ever-changing nature of near-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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 4.08% higher within the past month. FANG is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that FANG has a Forward P/E ratio of 11.12 right now. This valuation marks a discount compared to its industry's average Forward P/E of 11.38.
Investors should also note that FANG has a PEG ratio of 0.51 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.65 at yesterday's closing price.
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 89, which puts it in the top 36% 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) Stock Sinks As Market Gains: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $98.06, moving -1.55% from the previous trading session. This change lagged the S&P 500's 0.75% gain on the day.
Heading into today, shares of the energy exploration and production company had gained 15.12% over the past month, outpacing the Oils-Energy sector's gain of 2.47% and the S&P 500's gain of 2.91% 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 August 2, 2021. On that day, FANG is projected to report earnings of $2.19 per share, which would represent year-over-year growth of 1360%. 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 $8.96 per share and revenue of $5 billion. These results would represent year-over-year changes of +194.74% and +77.67%, respectively.
Investors might also notice recent changes to analyst estimates for FANG. These revisions help to show the ever-changing nature of near-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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 4.08% higher within the past month. FANG is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that FANG has a Forward P/E ratio of 11.12 right now. This valuation marks a discount compared to its industry's average Forward P/E of 11.38.
Investors should also note that FANG has a PEG ratio of 0.51 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.65 at yesterday's closing price.
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 89, which puts it in the top 36% 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.