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 But Lags Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $130.06, marking a +0.25% move from the previous day. This move lagged the S&P 500's daily gain of 0.69%. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, lost 8.94%.
Coming into today, shares of the energy exploration and production company had gained 0.6% in the past month. In that same time, the Oils-Energy sector gained 2.52%, while the S&P 500 gained 5.41%.
Diamondback Energy will be looking to display strength as it nears its next earnings release. On that day, Diamondback Energy is projected to report earnings of $4.61 per share, which would represent a year-over-year decline of 34.79%. Our most recent consensus estimate is calling for quarterly revenue of $2.05 billion, down 25.91% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $19.07 per share and revenue of $8.35 billion. These totals would mark changes of -20.61% and -13.44%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 5.04% lower. Diamondback Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 6.8. This valuation marks a discount compared to its industry's average Forward P/E of 7.03.
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. FANG's industry had an average PEG ratio of 0.36 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 206, putting it in the bottom 19% 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.
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) Gains But Lags Market: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $130.06, marking a +0.25% move from the previous day. This move lagged the S&P 500's daily gain of 0.69%. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, lost 8.94%.
Coming into today, shares of the energy exploration and production company had gained 0.6% in the past month. In that same time, the Oils-Energy sector gained 2.52%, while the S&P 500 gained 5.41%.
Diamondback Energy will be looking to display strength as it nears its next earnings release. On that day, Diamondback Energy is projected to report earnings of $4.61 per share, which would represent a year-over-year decline of 34.79%. Our most recent consensus estimate is calling for quarterly revenue of $2.05 billion, down 25.91% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $19.07 per share and revenue of $8.35 billion. These totals would mark changes of -20.61% and -13.44%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 5.04% lower. Diamondback Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 6.8. This valuation marks a discount compared to its industry's average Forward P/E of 7.03.
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. FANG's industry had an average PEG ratio of 0.36 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 206, putting it in the bottom 19% 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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.