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Diamondback Energy (FANG) Stock Moves -0.39%: What You Should Know
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $124.08, moving -0.39% from the previous trading session. This change was narrower than the S&P 500's 1.42% loss on the day. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the energy exploration and production company had gained 20.07% over the past month, outpacing the Oils-Energy sector's gain of 8.29% and the S&P 500's gain of 0.39% in that time.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2022. On that day, Diamondback Energy is projected to report earnings of $3.53 per share, which would represent year-over-year growth of 330.49%. Our most recent consensus estimate is calling for quarterly revenue of $1.69 billion, up 120.1% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Diamondback Energy. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.75% lower. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 7.28. This represents a premium compared to its industry's average Forward P/E of 6.24.
Investors should also note that FANG has a PEG ratio of 0.33 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 0.29 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 202, which puts it in the bottom 21% 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.
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Diamondback Energy (FANG) Stock Moves -0.39%: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $124.08, moving -0.39% from the previous trading session. This change was narrower than the S&P 500's 1.42% loss on the day. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the energy exploration and production company had gained 20.07% over the past month, outpacing the Oils-Energy sector's gain of 8.29% and the S&P 500's gain of 0.39% in that time.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2022. On that day, Diamondback Energy is projected to report earnings of $3.53 per share, which would represent year-over-year growth of 330.49%. Our most recent consensus estimate is calling for quarterly revenue of $1.69 billion, up 120.1% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Diamondback Energy. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.75% lower. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 7.28. This represents a premium compared to its industry's average Forward P/E of 6.24.
Investors should also note that FANG has a PEG ratio of 0.33 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 0.29 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 202, which puts it in the bottom 21% 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.