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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $155.79, marking a -0.33% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.29%.
Prior to today's trading, shares of the energy exploration and production company had gained 6.04% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. On that day, Diamondback Energy is projected to report earnings of $4.47 per share, which would represent a year-over-year decline of 31.02%. Our most recent consensus estimate is calling for quarterly revenue of $2.03 billion, down 16.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.34 per share and revenue of $7.95 billion, which would represent changes of -27.81% and -17.58%, respectively, from the prior year.
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. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 4.13% higher within the past month. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Diamondback Energy has a Forward P/E ratio of 9.02 right now. Its industry sports an average Forward P/E of 9.98, so we one might conclude that Diamondback Energy is trading at a discount comparatively.
Investors should also note that FANG has a PEG ratio of 0.41 right now. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.5 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 191, which puts it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Diamondback Energy (FANG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $155.79, marking a -0.33% move from the previous day. This move lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.29%.
Prior to today's trading, shares of the energy exploration and production company had gained 6.04% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. On that day, Diamondback Energy is projected to report earnings of $4.47 per share, which would represent a year-over-year decline of 31.02%. Our most recent consensus estimate is calling for quarterly revenue of $2.03 billion, down 16.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.34 per share and revenue of $7.95 billion, which would represent changes of -27.81% and -17.58%, respectively, from the prior year.
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. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 4.13% higher within the past month. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Diamondback Energy has a Forward P/E ratio of 9.02 right now. Its industry sports an average Forward P/E of 9.98, so we one might conclude that Diamondback Energy is trading at a discount comparatively.
Investors should also note that FANG has a PEG ratio of 0.41 right now. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.5 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 191, which puts it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.