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Diamondback Energy (FANG) Stock Moves -0.91%: What You Should Know
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Diamondback Energy (FANG - Free Report) closed at $118.11 in the latest trading session, marking a -0.91% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Prior to today's trading, shares of the energy exploration and production company had gained 3.12% over the past month. This has lagged the Oils-Energy sector's gain of 5.65% and the S&P 500's gain of 5.72% in that time.
Diamondback Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.54, up 331.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.69 billion, up 120.07% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Diamondback Energy. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.4% lower. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 6.85. This represents a premium compared to its industry's average Forward P/E of 5.89.
Investors should also note that FANG has a PEG ratio of 0.31 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 0.27 at yesterday's closing price.
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 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Diamondback Energy (FANG) Stock Moves -0.91%: What You Should Know
Diamondback Energy (FANG - Free Report) closed at $118.11 in the latest trading session, marking a -0.91% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Prior to today's trading, shares of the energy exploration and production company had gained 3.12% over the past month. This has lagged the Oils-Energy sector's gain of 5.65% and the S&P 500's gain of 5.72% in that time.
Diamondback Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.54, up 331.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.69 billion, up 120.07% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Diamondback Energy. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.4% lower. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 6.85. This represents a premium compared to its industry's average Forward P/E of 5.89.
Investors should also note that FANG has a PEG ratio of 0.31 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 0.27 at yesterday's closing price.
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 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.