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Diamondback Energy (FANG) Gains As Market Dips: What You Should Know
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Diamondback Energy (FANG - Free Report) closed at $127.40 in the latest trading session, marking a +0.33% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the energy exploration and production company had gained 15.27% in the past month. In that same time, the Oils-Energy sector gained 10.7%, while the S&P 500 lost 7.66%.
Investors will be hoping for strength from Diamondback Energy as it approaches its next earnings release, which is expected to be February 22, 2022. The company is expected to report EPS of $3.47, up 323.17% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.69 billion, up 119.45% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.49% higher. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 7.12. This valuation marks a premium compared to its industry's average Forward P/E of 5.7.
Meanwhile, FANG's PEG ratio is currently 0.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. FANG's industry had an average PEG ratio of 0.28 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 60, putting it in the top 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Diamondback Energy (FANG) Gains As Market Dips: What You Should Know
Diamondback Energy (FANG - Free Report) closed at $127.40 in the latest trading session, marking a +0.33% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the energy exploration and production company had gained 15.27% in the past month. In that same time, the Oils-Energy sector gained 10.7%, while the S&P 500 lost 7.66%.
Investors will be hoping for strength from Diamondback Energy as it approaches its next earnings release, which is expected to be February 22, 2022. The company is expected to report EPS of $3.47, up 323.17% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.69 billion, up 119.45% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.49% higher. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 7.12. This valuation marks a premium compared to its industry's average Forward P/E of 5.7.
Meanwhile, FANG's PEG ratio is currently 0.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. FANG's industry had an average PEG ratio of 0.28 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 60, putting it in the top 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.