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) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $123.12, moving -1.92% from the previous trading session. This change lagged the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Prior to today's trading, shares of the energy exploration and production company had lost 11.45% over the past month. This has lagged the Oils-Energy sector's loss of 10.83% and the S&P 500's loss of 3.02% in that time.
Investors will be hoping for strength from Diamondback Energy as it approaches its next earnings release. On that day, Diamondback Energy is projected to report earnings of $4.92 per share, which would represent a year-over-year decline of 5.38%. Meanwhile, our latest consensus estimate is calling for revenue of $2.11 billion, down 12.37% from the prior-year quarter.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $22.08 per share and revenue of $9.11 billion. These results would represent year-over-year changes of -8.08% and -5.56%, respectively.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 6.66% lower. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 5.69. This represents a premium compared to its industry's average Forward P/E of 5.44.
We can also see that FANG currently has a PEG ratio of 0.26. 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 0.29 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 227, which puts it in the bottom 10% 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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Diamondback Energy (FANG) Dips More Than Broader Markets: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $123.12, moving -1.92% from the previous trading session. This change lagged the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Prior to today's trading, shares of the energy exploration and production company had lost 11.45% over the past month. This has lagged the Oils-Energy sector's loss of 10.83% and the S&P 500's loss of 3.02% in that time.
Investors will be hoping for strength from Diamondback Energy as it approaches its next earnings release. On that day, Diamondback Energy is projected to report earnings of $4.92 per share, which would represent a year-over-year decline of 5.38%. Meanwhile, our latest consensus estimate is calling for revenue of $2.11 billion, down 12.37% from the prior-year quarter.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $22.08 per share and revenue of $9.11 billion. These results would represent year-over-year changes of -8.08% and -5.56%, respectively.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 6.66% lower. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 5.69. This represents a premium compared to its industry's average Forward P/E of 5.44.
We can also see that FANG currently has a PEG ratio of 0.26. 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 0.29 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 227, which puts it in the bottom 10% 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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.