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Diamondback Energy (FANG) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $88.72, marking a +0.98% move from the previous day. This change outpaced the S&P 500's 0.15% gain on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 20.22% over the past month. This has outpaced the Oils-Energy sector's gain of 7.33% and the S&P 500's loss of 0.58% in that time.
Wall Street will be looking for positivity from FANG as it approaches its next earnings report date. On that day, FANG is projected to report earnings of $2.64 per share, which would represent year-over-year growth of 325.81%. Our most recent consensus estimate is calling for quarterly revenue of $1.48 billion, up 106.12% from the year-ago period.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $10.14 per share and revenue of $5.5 billion. These results would represent year-over-year changes of +233.55% and +95.41%, respectively.
Any recent changes to analyst estimates for FANG should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.21% higher. FANG is currently a Zacks Rank #3 (Hold).
In terms of valuation, FANG is currently trading at a Forward P/E ratio of 8.67. This valuation marks a discount compared to its industry's average Forward P/E of 9.64.
Investors should also note that FANG has a PEG ratio of 0.4 right now. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.41 as of yesterday's close.
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 56, which puts it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Diamondback Energy (FANG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $88.72, marking a +0.98% move from the previous day. This change outpaced the S&P 500's 0.15% gain on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 20.22% over the past month. This has outpaced the Oils-Energy sector's gain of 7.33% and the S&P 500's loss of 0.58% in that time.
Wall Street will be looking for positivity from FANG as it approaches its next earnings report date. On that day, FANG is projected to report earnings of $2.64 per share, which would represent year-over-year growth of 325.81%. Our most recent consensus estimate is calling for quarterly revenue of $1.48 billion, up 106.12% from the year-ago period.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $10.14 per share and revenue of $5.5 billion. These results would represent year-over-year changes of +233.55% and +95.41%, respectively.
Any recent changes to analyst estimates for FANG should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.21% higher. FANG is currently a Zacks Rank #3 (Hold).
In terms of valuation, FANG is currently trading at a Forward P/E ratio of 8.67. This valuation marks a discount compared to its industry's average Forward P/E of 9.64.
Investors should also note that FANG has a PEG ratio of 0.4 right now. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.41 as of yesterday's close.
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 56, which puts it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.