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 $146.59, marking a +0.38% move from the previous day. This move outpaced the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the energy exploration and production company had gained 13.38% over the past month, outpacing the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 5.13% in that time.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be November 7, 2022. On that day, Diamondback Energy is projected to report earnings of $6.54 per share, which would represent year-over-year growth of 122.45%. Our most recent consensus estimate is calling for quarterly revenue of $2.39 billion, up 25.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $25.32 per share and revenue of $9.66 billion, which would represent changes of +121.52% and +42.09%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.01% lower. Diamondback Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Diamondback Energy has a Forward P/E ratio of 5.77 right now. This represents a premium compared to its industry's average Forward P/E of 5.3.
Investors should also note that FANG has a PEG ratio of 0.26 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.24 based on yesterday's closing prices.
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 38, which puts it in the top 16% 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 $146.59, marking a +0.38% move from the previous day. This move outpaced the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the energy exploration and production company had gained 13.38% over the past month, outpacing the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 5.13% in that time.
Diamondback Energy will be looking to display strength as it nears its next earnings release, which is expected to be November 7, 2022. On that day, Diamondback Energy is projected to report earnings of $6.54 per share, which would represent year-over-year growth of 122.45%. Our most recent consensus estimate is calling for quarterly revenue of $2.39 billion, up 25.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $25.32 per share and revenue of $9.66 billion, which would represent changes of +121.52% and +42.09%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.01% lower. Diamondback Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Diamondback Energy has a Forward P/E ratio of 5.77 right now. This represents a premium compared to its industry's average Forward P/E of 5.3.
Investors should also note that FANG has a PEG ratio of 0.26 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.24 based on yesterday's closing prices.
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 38, which puts it in the top 16% 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.