We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Diamondback Energy (FANG) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $88.19, marking a +0.23% move from the previous day. This move outpaced the S&P 500's daily loss of 0.86%.
Prior to today's trading, shares of the energy exploration and production company had lost 0.33% over the past month. This has was narrower than the Oils-Energy sector's loss of 4.44% and lagged the S&P 500's gain of 3.22% in that time.
FANG will be looking to display strength as it nears its next earnings release, which 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, our latest consensus estimate is calling for revenue of $1.32 billion, up 211.74% from the prior-year quarter.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $9.02 per share and revenue of $5.02 billion. These results would represent year-over-year changes of +196.71% and +78.6%, respectively.
Investors might also notice recent changes to analyst estimates for FANG. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 4.72% higher. FANG is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note FANG's current valuation metrics, including its Forward P/E ratio of 9.76. For comparison, its industry has an average Forward P/E of 10.23, which means FANG is trading at a discount to the group.
Also, we should mention that FANG has a PEG ratio of 0.44. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FANG's industry had an average PEG ratio of 0.56 as of yesterday's close.
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 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Diamondback Energy (FANG) Gains As Market Dips: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $88.19, marking a +0.23% move from the previous day. This move outpaced the S&P 500's daily loss of 0.86%.
Prior to today's trading, shares of the energy exploration and production company had lost 0.33% over the past month. This has was narrower than the Oils-Energy sector's loss of 4.44% and lagged the S&P 500's gain of 3.22% in that time.
FANG will be looking to display strength as it nears its next earnings release, which 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, our latest consensus estimate is calling for revenue of $1.32 billion, up 211.74% from the prior-year quarter.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $9.02 per share and revenue of $5.02 billion. These results would represent year-over-year changes of +196.71% and +78.6%, respectively.
Investors might also notice recent changes to analyst estimates for FANG. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 4.72% higher. FANG is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note FANG's current valuation metrics, including its Forward P/E ratio of 9.76. For comparison, its industry has an average Forward P/E of 10.23, which means FANG is trading at a discount to the group.
Also, we should mention that FANG has a PEG ratio of 0.44. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FANG's industry had an average PEG ratio of 0.56 as of yesterday's close.
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 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.