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Diamondback Energy (FANG) Outpaces Stock Market Gains: What You Should Know
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $157.92, moving +1.37% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 0.96%, and the Nasdaq, a tech-heavy index, added 0.81%.
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 2.52% and the S&P 500's gain of 0.19% in that time.
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 $4.47 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.34 per share and revenue of $7.95 billion. These totals would mark changes of -27.81% and -17.58%, respectively, from last year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 5.45% higher within the past month. 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 8.99. For comparison, its industry has an average Forward P/E of 10.02, which means Diamondback Energy is trading at a discount to the group.
It is also worth noting that FANG currently has a PEG ratio of 0.41. 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 0.5 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% 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) Outpaces Stock Market Gains: What You Should Know
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $157.92, moving +1.37% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 0.96%, and the Nasdaq, a tech-heavy index, added 0.81%.
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 2.52% and the S&P 500's gain of 0.19% in that time.
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 $4.47 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.34 per share and revenue of $7.95 billion. These totals would mark changes of -27.81% and -17.58%, respectively, from last year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 5.45% higher within the past month. 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 8.99. For comparison, its industry has an average Forward P/E of 10.02, which means Diamondback Energy is trading at a discount to the group.
It is also worth noting that FANG currently has a PEG ratio of 0.41. 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 0.5 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% 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.