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Has Diamondback Energy (FANG) Outpaced Other Oils-Energy Stocks This Year?
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Investors focused on the Oils-Energy space have likely heard of Diamondback Energy (FANG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Diamondback Energy is a member of the Oils-Energy sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for FANG's full-year earnings has moved 21.95% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, FANG has moved about 88.37% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 26.86% on a year-to-date basis. This means that Diamondback Energy is outperforming the sector as a whole this year.
To break things down more, FANG belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 45 individual companies and currently sits at #35 in the Zacks Industry Rank. On average, this group has gained an average of 86.43% so far this year, meaning that FANG is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on FANG as it attempts to continue its solid performance.
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Has Diamondback Energy (FANG) Outpaced Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of Diamondback Energy (FANG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Diamondback Energy is a member of the Oils-Energy sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. FANG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for FANG's full-year earnings has moved 21.95% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, FANG has moved about 88.37% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 26.86% on a year-to-date basis. This means that Diamondback Energy is outperforming the sector as a whole this year.
To break things down more, FANG belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 45 individual companies and currently sits at #35 in the Zacks Industry Rank. On average, this group has gained an average of 86.43% so far this year, meaning that FANG is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on FANG as it attempts to continue its solid performance.